CDS Crypto News Bitcoin Achieves a Historic High with Realized Cap Soaring to 540 Billion Dollars
Crypto News

Bitcoin Achieves a Historic High with Realized Cap Soaring to 540 Billion Dollars

Analysts at Glassnode observe a surge in fresh demand and liquidity flowing into Bitcoin. They highlight the remarkable increase in the realized cap metric, which has risen at an unprecedented rate of $79 billion per month.

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Bitcoin Achieves a Historic High with Realized Cap Soaring to 540 Billion Dollars

Crypto NewsBitcoin’s ascent to an all-time high near $73,700 has been followed by a slight retreat, yet inflows of capital into the premier digital asset remain steady.

Bitcoin Achieves a Historic High with Realized Cap Soaring to 540 Billion Dollars

According to the latest insights from Glassnode, an onchain analytics firm, the market is currently brimming with liquidity, witnessing a resurgence of dormant supply.

Noteworthy is the prevailing trend of profit-taking among investors, with the dominance of profits shifting from short-term to long-term bitcoin holders.

As these profits are realized, coins transition from lower-cost bases to higher ones, a phenomenon Glassnode interprets as indicative of renewed demand and liquidity in bitcoin. Realized Cap, a metric devised to gauge market capitalization by valuing each unspent transaction output (UTXO) based on its last movement price, stands as a key indicator in this regard. Essentially, it reflects the realized value of all coins within the network rather than their present market worth.

With Realized Cap valuing each coin at its last movement price, it serves as a proxy for the stored or saved value within the asset.

Currently, the Realized Cap metric has reached an unprecedented $540 billion and is witnessing a monthly increase of $79 billion.

Bitcoin Achieves a Historic High with Realized Cap Soaring to 540 Billion Dollars

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