10 pictures reveal the current status of the encryption market: BTC market share exceeds 52%, and stablecoin supply increased by 14% in the first quarter

Original title: The Current State of Crypto in 10 Graphs

Author: THE ALTCOIN INVESTOR

Compiled by Deep Wave TechFlow

Today I want to share 10 charts to help you navigate the current cryptocurrency market.

Ten Charts on the State of Cryptocurrency

Glassnode and Coinbase have released the Cryptocurrency Market Guide, a quarterly series designed to provide insight into Detailed analysis of the main developments in the cryptocurrency market.

Here are 10 charts from the report that caught our attention:

1. Bitcoin dominance rises from 50% to 52%

Usually an alt season triggered by a halving reduces Bitcoin’s dominance, tilting it more towards new altcoins. That hasn't happened yet, so there's plenty of room for growth.

2. Cryptocurrency Correlation

Cryptocurrency’s Historical Correlation to Traditional Asset Classes The risk is very low, suggesting that it can provide a meaningful source of idiosyncratic risk in many different portfolios.

3. Stablecoin supply rose by more than 14% in the first quarter

In evaluation An important metric to consider when considering stablecoins is the amount and nature of the reserve assets they hold. Stablecoin supply rose by more than 14% in the first quarter as market participants continued to increase their use of stablecoins.

4. Bitcoin price performance after halving

This chart measures each halving Bitcoin’s total return over the cycle. In the 12 months after the first 3 halvings, price:

• Increased over 1000% after the first halving (red line)

• Grown by more than 200% after the second halving (blue line)

• The third halving After growing by more than 600% (green line)

5. Bitcoin available supply

The difference between the current circulating supply of a token and the illiquid supply (lost wallets, long-term holdings, locked) determines the amount of available Bitcoin supply.

After peaking in early 2020, Bitcoin’s available supply has dropped to approximately 4.6 million Bitcoins, a significant shift ahead of the fourth halving, compared to the previous The steady increase in available supply observed during the three halvings differs.

6. Bull market cycle performance

Bitcoin has historically shown exponential growth during bull markets, Prices have surged many times off the lows. The current bull cycle began in November 2022 and prices have reached 4x the lows. As the chart shows, the two previous bull markets (2015 to 2017 and 2018 to 2021) saw prices increase by 100x and 20x respectively.

7. Bitcoin’s price performance since the low

Bitcoin has completed four cycles, each cycle includes a bull market and a bear market. This chart shows how the current market cycle, starting in 2022, compares to previous cycles. In the current cycle, Bitcoin is up more than 400% in the 17 months since its lows. The current cycle is closest to the 2018 to 2022 cycle, with Bitcoin up 1000% 24 months after the low.

8. Ethereum’s price performance since the lows

Ethereum has completed two A cycle that includes bull and bear markets. This chart shows how the current market cycle, starting in 2022, compares to previous cycles. In the current cycle, Ethereum is up more than 200% in the 17 months since its lows. The current cycle is closest to the one from 2018 to 2022, with Ethereum up 400% 24 months after the lows.

9. Ethereum supply profit status

Observing supply profitability can help reveal where cryptocurrency prices are in the current market cycle, as previous cryptocurrency market cycles were characterized by three phases:

• Price Bottom: In the final stages of a bear market, a prolonged price decline causes the share of loss-making supply to rise (% of profitable supply

• Excitement: When parabolic price uptrends occur in bull markets, the share of profitable supply dominates (% of profitable supply > 95%).

• Bull/Bear Transition: The transition period between bottom exploration and ecstasy, when supply profitability is closer to equilibrium (the percentage of profitable supply is between 55% and 95% between).

10. Ethereum weekly active addresses increased by 26%

Active addresses grew 26% in the first quarter amid price increases and Ethereum’s successful Dencun upgrade.

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