@BOMBERuss 31 August 2021 more from that month

On-chain activity lags too far behind the price dynamics of bitcoin and ether, which indicates the completion of the cryptocurrency accumulation phase! A powerful short-squeeze is moving to the cryptocurrency market. This is the conclusion reached by the analysts of Glassnode. According to them, the strong divergence between the value of assets and their on-chain activity indicates that the accumulation phase is ending, and the market is preparing for a new rally. The same decline was noticed in ether. Despite the fact that there are much more active daily addresses in the Ethereum network (450 thousand), this is still 33% lower than the May peak. The current activity in both networks is similar to the "stable accumulation range before the bullish period," according to Glassnode. Network transactions also show a decrease in activity. For example, bitcoin's activity has been reduced from highs by 37.5% to 200 thousand transactions per day. In the Ethereum network, the volume reduction was 26.6% to 1.1 million transactions per day. #CryptoTrading