The market has added $274 billion in market capitalization since the 24th of January. Altcoin s have been making massive gains in recent weeks, and finding the next setup could net traders a tidy profit. AMBCrypto took a closer look at the token and its on-chain metrics . The Web 3.0 application with a focus on “ move to earn ” showed bullish signs – but should investors seek to buy now? The mean coin age has trended higher since November.
This was a strong sign of accumulation, although December and January saw sizeable drops in this metric. This suggested that new addresses were being created and holders continued to amass the token. The dormant circulation saw a large spike on the 3rd of March, followed by a price correction from $0.33 to $0.29 on the 5th of March. The circulation did not note significant surges since then. The MVRV ratio was rising higher over the past three weeks alongside prices to reflect that holders were at a profit. This raised some concerns about selling pressure in the form of profit-taking
Source: News Formal (newsformal.com)
Altcoin Market Capitalization Gains Traders Profit On-Chain Metrics Web 3.0 Move To Earn Bullish Signs Investors Buy Coin Age Accumulation Addresses Holders Dormant Circulation Spike Price Correction MVRV Ratio Selling Pressure Profit-Taking
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