Short-term holders of Bitcoin are currently experiencing unrealized losses, with 88.3% of their supply underwater, leading to increased selling pressure in the market and potential liquidation by these holders.
Cardano is experiencing significant growth in network activity, with on-chain transactions increasing by over 1,700% since January, indicating potential upward movement for the cryptocurrency. Similarly, Ethereum's network activity is also rising, suggesting a potential price bounce in the near future, according to blockchain analytics firm Santiment.
Hackers behind the $41 million hack of cryptocurrency casino Stake have moved an additional $328,000 million worth of Polygon and BNB tokens to the Avalanche blockchain, bringing the total transferred funds to $4.8 million, representing 1.2% of the total stolen amount.
Bitcoin and other cryptocurrencies advanced on Friday, but a key technical indicator suggests that losses are likely coming.
Ark Invest's recent report highlights the recovery of Bitcoin's realized capitalization, the decline in liquidity and trading volumes, the recent increase in volatility, and the optimistic long-term outlook for the cryptocurrency.
