Price analysis 8/11: BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI, LINK, SOL
Cointelegraph
Published Aug 11, 2021 04:52PM ET
Updated Aug 11, 2021 07:00PM ET
Bitcoin’s (BTC) strong recovery and march toward the psychological level at $50,000 has improved the overall sentiment in the crypto sector. That has boosted the total crypto market capitalization to over $1.9 trillion.
Data from Glassnode shows a sharp increase in the dominance of Bitcoin transactions exceeding $1 million in the past few months. The on-chain analytics firm noted in its report that the transactions by the $1 million to $10 million group surged when Bitcoin corrected to $29,000 in July. This suggests that institutional investors may have been buying, which is “fairly constructive for price.”
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Written By: Cointelegraph
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