Bitcoin’s next rally may depend on Congress, O’Leary says
Kevin O’Leary says Bitcoin’s next catalyst is regulation as institutions wait for clear rules before entering digital assets at scale soon
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About 16 million ADA left exchanges for self-custody wallets in a single 24-hour window, according to Coinglass spot flow data — a shift that points to quiet Cardano accumulation while prices remain under pressure. Related Reading: The Bitcoin Rally Has A Problem: Demand Is Drying Up Cardano: Big Move Off Exchanges Coinglass data shows that Cardano spot inflows over that period came in at $30 million, while outflows hit $32.62 million, producing a net exchange flow of -$2.54 million. At ADA’s current price of $0.16, that gap translates to roughly 16 million tokens moving away from exchanges. That exodus from trading platforms follows a separate but related development flagged by market intelligence platform Santiment on June 10. Data from Santiment showed that wallets holding ADA for extended periods had begun moving their coins again after months of relative quiet — a shift captured through two on-chain metrics: Mean Dollar Invested Age and Age Consumed. ✍️ TL;DR: Large dormant Cardan
Read full articleKevin O’Leary says Bitcoin’s next catalyst is regulation as institutions wait for clear rules before entering digital assets at scale soon
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On-chain data reveals Cardano has observed increased transactions involving dormant coins recently, suggesting that the price decline has caused long-term holders to become active again. Cardano Has Seen Spikes In Age Consumed Recently As pointed out by on-chain analytics firm Santiment in an X post, large dormant Cardano wallets have lately been on the move. The indicator of relevance here is the “Age Consumed,” which measures the total number of tokens being moved on the blockchain multiplied by the amount of time since they last moved. Related Reading: Bitcoin Back At Production Cost: Analyst Says Best Value Zone Starts Here When the value of this metric is high, it means the network is observing the movement of a large number of old tokens. On the other hand, it being low suggests coins being involved in a transaction are the ones that were purchased relatively recently (or alternatively, if old tokens are being shifted, they don’t involve a significant count). Now, here is the cha
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