$91,643.00
1.60%$3,190.03
3.21%$240.38
2.98%$622.62
0.19%$1.13
5.73%$0.374629
2.63%$1.001
0.13%$3,188.42
3.18%$0.752982
1.93%$0.205792
4.48%$0.00002493
-0.26%$35.72
0.24%$5.56
1.94%$3,744.74
2.42%$91,449.00
1.64%$3.75
-4.04%$15.41
10.22%$3,184.07
2.87%$446.88
2.44%$0.00002074
-4.59%$5.95
7.49%$6.15
5.11%$7.64
0.02%$0.231591
19.62%$89.59
2.10%$12.22
1.46%$3,346.22
2.81%$9.25
4.40%$1.016
2.83%$0.132103
49.30%$0.171454
7.40%$9.44
2.07%$0.170143
11.46%$26.64
3.30%$7.79
9.15%$516.25
2.98%$0.456
12.89%$1.38
8.33%$3.82
11.21%$3.47
-8.77%$0.0000484
-4.41%$1.002
0.17%$22.19
0.23%$0.730555
6.59%$1.94
2.50%$157.74
4.78%$4.52
2.24%$44.23
-0.58%$1.001
0.42%$0.03227533
11.14%$6.50
12.54%$171.22
4.02%$25.68
0.82%$0.735855
2.40%$0.000252
-4.60%$1.40
5.66%$5.48
5.05%$0.527838
3.60%$1.78
2.94%$0.217334
10.61%$0.729657
3.11%$3,193.12
3.38%$1.37
-0.82%$5.44
0.35%$0.215896
16.10%$1.78
-7.24%$1.74
18.58%$0.604736
7.81%$3,541.11
2.39%$0.166334
-2.73%$1.63
-0.98%$5.63
-0.83%$2.42
5.90%$1.18
-0.14%$3,339.33
3.21%$0.418155
-0.17%$91,453.00
1.63%$3,259.41
2.88%$1.013
7.91%$91,728.00
1.66%$68.94
3.72%$1,542.09
3.90%$89.07
12.11%$10.76
-1.64%$0.02473287
3.98%$19.51
9.52%$296.74
2.90%$9.73
0.31%$0.03103944
8.49%$1.19
51.18%$0.74429
14.35%$1.24
6.17%$0.00000114
2.44%$0.02047678
-0.08%$0.511657
10.97%$1.062
-16.40%$0.456321
13.42%$0.02189342
2.22%$3,147.64
1.90%$3.10
0.23%$0.681794
8.27%$0.01154489
-6.33%$5.89
2.34%$91,395.00
1.71%$253.94
2.93%$0.852806
13.61%$11.98
0.15%$1.032
4.41%$0.00000244
-3.29%$6.06
8.45%$1.33
5.18%$91,386.00
1.39%$13.03
6.34%$3.70
12.06%$1.33
-0.69%$0.00004599
4.52%$0.00213712
0.00%$91,923.00
2.05%$5.44
3.35%$0.364292
3.24%$31.60
6.13%$0.704374
7.44%$1.15
4.10%$38.98
2.64%$1.25
1.40%$0.135456
-0.49%$0.42342
6.53%$0.00772211
3.03%$0.374335
2.36%$0.083534
19.07%$1.003
0.66%$0.01068213
-0.05%$0.00736006
2.27%$0.158505
3.27%$243.79
3.21%$3,264.33
2.67%$0.193293
22.80%$0.260216
3.13%$3,192.58
3.22%$45.83
5.80%$2.19
4.66%$0.812947
7.02%$262.30
2.83%$0.04376368
2.54%$0.996662
0.29%$3,197.56
3.30%$2,614.84
2.10%$18.72
5.43%$0.000112
1.34%$0.01371541
6.25%$0.00890873
-3.31%$1.87
13.77%$1.36
1.30%$1.33
5.05%$0.614491
6.96%$0.618905
-4.09%$0.086966
8.32%$2.38
-6.35%$3,453.93
3.13%$32.63
2.16%$0.154429
5.68%$1.96
3.23%$1.093
2.75%$0.556438
-11.88%$0.081166
0.18%$0.00000026
5.99%$9.40
3.04%$1.47
1.27%$0.569126
-11.83%$1.001
0.10%$0.261717
5.58%$0.00153273
5.62%$0.488199
5.18%$3,187.11
2.80%$91,453.00
1.34%$2,618.82
2.10%$0.171729
10.90%$0.069257
6.72%$1.002
0.54%$0.0000005
2.38%$0.073328
10.07%$0.059634
4.40%$3,170.83
2.69%$55.04
4.56%$92,030.00
2.94%$0.436284
38.50%$2.57
4.81%$9.44
10.72%$0.468966
-9.09%$3,182.99
2.91%$0.373015
14.80%$91,680.00
1.92%$3.85
-7.92%$0.245635
3.79%$0.00858142
17.95%$0.01441992
0.13%$1.069
0.72%$0.04583639
10.85%$0.00132615
3.53%$1.00
0.01%$0.335144
10.36%$3.83
4.07%$0.04367015
-6.43%$3,191.26
3.26%$99.94
1.53%$3,383.31
2.03%$6.71
2.68%$0.02109155
10.33%$0.980091
0.97%$0.999511
0.22%$0.02339678
-12.63%$11.20
4.42%$0.962629
0.23%$1.062
0.22%$1.54
1.10%$3,292.82
1.96%$3.00
3.11%$0.714517
9.24%$0.460621
23.29%$0.00218101
5.72%$0.553271
6.56%$0.696395
7.78%$0.00474693
-3.66%$0.00
-0.89%$0.7388
3.84%$3.50
4.89%$0.21232
20.68%$1.002
0.27%$0.373434
7.88%$3,496.95
2.75%$1.003
0.46%$1,837.89
1.43%$1.69
6.05%$0.325818
14.53%$0.00005333
-3.17%$0.880346
12.85%$29.57
4.73%$0.00068464
4.04%$41.57
-0.24%$22.24
4.42%$91,416.00
1.39%$3,380.91
3.24%$1.67
5.38%$3.29
10.65%$0.03488644
3.17%$0.03449245
9.20%$0.342629
19.82%$0.385678
7.11%
Here’s another metric that describes Bitcoin’s recent success, per analytics site Glassnode: “98% of all unspent Bitcoin transactions (UTXOs) are currently in a state of profit.”
98% of all #Bitcoin UTXOs are currently in a state of profit.
A level not seen since Dec 2017, and typical in previous $BTC bull markets.
Live chart: https://t.co/bxvcpcBvlK pic.twitter.com/Mb0gTA4t26
— glassnode (@glassnode) October 22, 2020
“A level not seen since Dec 2017, and typical in previous $BTC bull markets,” said Glassnode in its tweet. What’s this mean? Is this Good For Bitcoin? Number go up? (Hasn’t it gone up enough?)
Nvt is garbage
— 🐝Cristian Brr bRR 🚁💸 (@cedreakfaci) October 22, 2020
What this metric describes is that all of the Bitcoin sitting in wallets right now would sell for a profit when compared to the value of that Bitcoin when it entered those wallets.
Kinda. An unspent transaction, or UTXO, refers to Bitcoin that one has a right to sell. If you sent Decrypt a Bitcoin, Decrypt would receive the right to one Bitcoin transaction, which until we move the coin is unspent (hence the name).
If Decrypt then donated 0.5 of our Bitcoin to Joseph Lubin (whose company, ConsenSys, contributes funds to this editorially independent publication), he would receive one unspent transaction and our remaining half of a Bitcoin would turn into another unspent transaction. And so on.
Glassnode’s metric is a roundabout way of making the point that most of the money sitting around in Bitcoin wallets could be sold for a profit.
Its tweet today is the latest to show that Bitcoin is performing well at the moment. It hit just over $13,000 this week, a record unmatched since the end of last June. And all for a coin that was toying with the $4,000 mark in March! Where’s the Glassnode chart that expresses Decrypt’s surprise?
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
