In its latest ‘week on chain’ report, analytics provider Glassnode has been delving into the state of coin maturation to determine overall market sentiment – and it is still bullish.
It added that Bitcoin, which is better than gold according to Mark Cuban, has bounced from its fourth correction in the current cycle and hodling strengthens as coins mature.
“On-chain data for both Bitcoin and Ethereum indicate strong conviction to hold both assets remains, as coin maturation becomes increasingly evident, and network activity trends higher.”
#Bitcoin has bounced from correction lows as coins mature, HODLing strengthens and stablecoin supplies hit ATH.#Ethereum also shows market strength as throughput increases, exchanges are drained and DeFi absorbs $ETH.
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