Bitcoin, Ethereum, Dogecoin Close The Week Trading Sideways
Posted On November 8, 2024
Cryptocurrency markets are trading mostly sideways to close out the week.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin (CRYPTO: BTC) | $76,596.76 | -0.1% |
| Ethereum (CRYPTO: ETH) | $2,941.75 | +1.8% |
| Solana (CRYPTO: SOL) | $198.79 | +0.9% |
| Dogecoin (CRYPTO: DOGE) | $0.1959 | +1.8% |
| Shiba Inu (CRYPTO: SHIB) | $0.00001878 | -0.9% |
Notable Statistics:
- IntoTheBlock data shows large transaction volume decreasing by 26.3% and daily active addresses falling by 10.2%. Transactions greater than $100,000 are up from 15,034 to 11,544 in a single day. Exchanges netflows are up by 94.2%.
- Coinglass data reports 91,985 traders were liquidated in the past 24 hours for $265.50 million.
- On-chain and macro research provider Axel Adler Jr noted that the Bitcoin Profitability Index is currently at 221%, with past cycle peaks reaching 460% and 395%, and the previous high at 272%. Currently, users have an average profitability exceeding their initial investments by 121%.
Notable Developments:
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