Summary
- Matteo Greco, an analyst at Finekia, stated that virtual asset investors are preparing to inject new funds.
- Analyst Greco noted that the supply of exchange-held Bitcoin is decreasing, but the supply of stablecoins is at its highest level in years.
- He stated that the current Bitcoin MVRV is 2.2, lower than the all-time high, and the market has not yet reached its peak.
There has been a claim that cryptocurrency (virtual asset) investors are preparing to pour in new funds.
On the 4th (local time), Matteo Greco, an analyst at Finekia, said in an interview with CoinDesk, "The exchange-held Bitcoin supply is decreasing," adding, "The supply of stablecoins on exchanges is at the highest level in years. This shows that investors are getting ready to inject new funds."
He continued, "Currently, Bitcoin's Market Value to Realized Value Ratio (MVRV) is at 2.2, which is lower than its all-time high of 3.7," and explained, "We may be at the end of a cycle, but we have not yet reached the peak."
As of 3:53 p.m., Bitcoin was trading at $105,361 on the Binance USDT market, down 0.02% from 24 hours earlier.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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