Market Wrap: Bitcoin Dull as Drama (Not the Kind You Want) Comes to Axie

📆 21/10/2022 01:28:00
📰 CoinDesk

⏱ Reading Time:
31 sec. here
2 min. at publisher
📊 Quality Score:
News: 16%
Publisher: 63%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

MARKET WRAP: $BTC trades at a historic discount while battling macro hurdles around $19K. Axie’s $AXS tumbles amid news of token unlocking. GWilliamsJr_CMT liqquidity and _jocelynyang_ report

Bitcoin is as undervalued as it has been since 2020, based on a key indicator that relies on data extracted from the blockchain.

The “MVRV Z-Score” is an analytical tool used to assess whether bitcoin is looking cheap or expensive on a relative historical basis. The metric measures the difference between an asset’s market capitalization – the number of tokens outstanding times the spot price – and its “realized cap” – the number of tokens times the price at which the bitcoin last moved over the blockchain.

That difference is then divided by the standard deviation of the asset’s market cap. Similar to other technical indicators, it theoretically highlights areas where an asset is overvalued or undervalued.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

GWilliamsJr_CMT Liqquidity _jocelynyang_ I continue to regularly spend usdt to buy cheap bitcoin

GWilliamsJr_CMT Liqquidity _jocelynyang_ Axie Infinity developers dumped us.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin Dipped Below $19K, TerraClassicUSD Spikes 13% (Market Watch)USTC is today's best performer from the lower-cap alts, while BTC stands still at $19,000.
Source: Crypto_Potato - 🏆 568. / 51 Read more »