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With the introduction of Avalanche to IntoTheBlock analytics, all IntoTheBlock users can now access the full suite of Avalanche analytics with over 60 sophisticated indicators.
Avalanche is a layer 1 protocol best known for its near-instant transaction time, low gas fees, and reliable network. Avalanche is similar to Ethereum in some ways but sets itself apart with its novel approach to scalability and interoperability.
The remarkable growth of the Avalanche ecosystem quickly placed its native token, AVAX, amongst the top cryptocurrencies. Given this traction, we are excited to announce that starting today, Avalanche dedicated analytics are now available on the IntoTheBlock platform.
Avalanche on IntoTheBlock Analytics
Today we are unveiling the first release of IntoTheBlock’s Avalanche analytics. This release includes over 60 sophisticated indicators for Avalanche and many tokens on its main network: the Avalanche C-Chain.
Now let’s dive into the indicators. The new release includes a full suite of indicators divided into six categories: Financial, Network, Ownership, Exchange, Social Indicators and Derivatives.
These indicators provide information around AVAX holders’ profitability, monetary value of transactions, and dominance of large traders, among others.
As seen in the graph above, AVAX’s Global In/Out of the Money indicator reveals that at the time of writing 97.90% of the holders are “Out of the the money”. This means that for 97.90% of the holders, their acquisition price was above the current price.
As can be seen in the graph above, the number of AVAX holders (addresses with a balance) is currently at an ATH with 2.37m addresses and has been steadily increasing.
These indicators include things like concentration and holding period and help you determine how AVAX is held.
The Time Held indicator is useful to track new money flowing into AVAX and the behavior of holders. As can be seen in the graph above, the number of holders in any of the timeframes has been steadily increasing over time, and we can see that a majority of the holders are holding AVAX for longer periods of time.
This category measures movements within exchanges to provide a near real-time view of AVAX’s trading activity. Each indicator refreshes every minute.
The Exchange-Onchain Market Depth indicator provides helpful information about potential buying and selling pressure from both an order book and blockchain perspective.
IntoTheBlock Analytics also provides social analysis for AVAX. Measure the Telegram and Twitter sentiment, development activity and search trends.
In the news topics indicator, you can see common keywords associated with Avalanche in news sources.
Derivative markets indicators offer an overview of the fast-growing perpetual swaps and futures markets.
The funding rate is a fee charged to perpetual swaps holders depending on the premium/discount and the positioning of contract holders.
Support for Avalanche DeFi
In short, there are plenty of indicators that help you make an in-depth analysis of what’s happening with Avalanche.
At IntoTheBlock, we strongly believe that that DeFi is the way forward and recent events have only outlined the importance of decentralized exchanges, lending, etc. That’s why the release also includes most of the large DeFi protocols built on top of Avalanche, such as Benqi, Trader Joe and GMX. We hope you enjoy diving into Avalanche and its ecosystem.
This calls for a celebration!
To celebrate this release of Avalanche Analytics, we are giving away 10x free yearly memberships to IntoTheBlock Analytics. Simply follow the steps in the Gleam competition below to have a chance at winning.
Avalanche Analytics are Now Available at IntoTheBlock was originally published in IntoTheBlock on Medium, where people are continuing the conversation by highlighting and responding to this story.
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.