The big nickel shortCryptoSlate's latest market report dives deep into the nickel crisis that began in March 2022, to analyze the overlooked crisis' effect on the crypto market.
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The big nickel shortCryptoSlate's latest market report dives deep into the nickel crisis that began in March 2022, to analyze the overlooked crisis' effect on the crypto market. α Weekly ResearchBitcoin’s breakup with gold may be a sign of crypto’s emerging maturityBitcoin's correlation with gold reached its yearly low on June 30, suggesting a decoupling from other assets. Stablecoin buying power on exchanges increases as BTC and ETH see outflowsJune brought on a significant increase in stablecoin buying power on exchanges, indicating there could be an increase in buying pressure on the market amid large Bitcoin and Ethereum outflows. α Top Insights
More α ResearchBitcoin miners sent 260% of their daily revenue to exchangesA small drop from the all-time high on June 22, when miners sent an equivalent of 315% of their daily mining revenue to exchanges. Longest streak of Bitcoin withdrawals surpassing deposits signals market shiftJune 27 marks the longest streak ever recorded of Bitcoin withdrawals from exchanges outpacing deposits to exchanges. Bitcoin’s exchange balance drops to 5-year low as price hits $30KOnly 11.71% of Bitcoin's supply is currently held on exchanges.
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