Altcoins News
By Julie Binoche
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Key On-Chain Metrics Point to Accumulation. One of the most notable on-chain signals is the percentage of Binance Coin holders in profit.
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Consolidation, Not Panic Selling. In addition to the MVRV ratio, another important on-chain metric is the Coin Days Destroyed (CDD),…
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Is This the Right Time to Buy BNB?. Despite the correction, BNB’s on-chain data continues to show positive signs of demand and…
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Conclusion. Binance Coin may have experienced a pullback from its all-time high, but on-chain data suggests…
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Binance Coin (BNB) has experienced a significant decline since reaching its all-time high of $788 on December 4, 2024.
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One of the most notable on-chain signals is the percentage of Binance Coin holders in profit. According to Glassnode's data, around 85.
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Moreover, the MVRV (Market Value to Realized Value) ratio for BNB has been hovering around the 1.2 level since October 2024.
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In addition to the MVRV ratio, another important on-chain metric is the Coin Days Destroyed (CDD), which tracks the movement of older coins.
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Furthermore, the Long-Term Net Unrealized Profit-Loss (LTH NUPL) metric indicates a state of "fear," as long-term holders are seeing their unrealized losses rise.
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The current market conditions point to consolidation rather than a prolonged downtrend. As long as BNB holds above key support levels, there’s potential for the coin to bounce…
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Binance Coin may have experienced a pullback from its all-time high, but on-chain data suggests that it is in a consolidation phase rather than a full-fledged downtrend.
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