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Study Finds Most Popular Cryptocurrencies With Russian Social Media Users

Study Finds Most Popular Cryptocurrencies With Russian Social Media UsersIn a year with rising crypto prices, online chatter devoted to cryptocurrencies has increased significantly. Research carried out on Russian social media has identified the most talked about coins and it’s not just bitcoin on people’s minds. Experts List Most Mentioned Cryptos on Russian Social Media Brand Analytics, a company specializing in media monitoring in […]

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Annual Volume of Crypto Transactions Made by Russians Reaches $5 Billion, Bank of Russia Finds

Annual Volume of Crypto Transactions Made by Russians Reaches  Billion, Bank of Russia FindsWith the growing capitalization of the crypto economy, Russians have been making crypto transactions worth billions of dollars a year, data gathered by the Central Bank of Russia shows. Russian residents are some of the most active participants in the crypto market, the regulator has acknowledged. Russians Among Most Active Crypto Users, Central Bank Admits […]

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Long-term Bitcoin holders at multi-year high: Glassnode

The analytics provider reported that long-term BTC holders are reducing their spending, and adding to positions.

Glassnode’s latest weekly on-chain report indicated that long-term holders of Bitcoin (BTC) are at a multi-year high and markets are not yet saturated with profit-taking.

These long-term holders (LTH) appear to be reducing their spending while continuing to add to their positions, according to the Nov. 22 report by analytics provider Glassnode.

The analysis delved into Spent Volume Age Bands (SVAB), which are used to identify the age of coins dominating the on-chain flows on any given day. The metric can be used to identify when the process of profit-taking or accumulation begins, according to Glassnode.

Consistent spending of coins older than one month began in November 2020 and ended between April and May in 2021. The SVAB metric has now fallen back to 2.5% of the daily volume since concurrently spiking with the BTC all-time high in October. Glassnode noted:

“This can reasonably be interpreted as longer term holders reducing their spending, and thus are more likely to be adding to positions, not exiting them.”
Source: Glassnode

Glassnode also indicated that the total supply held by short-term hodlers (STH) is at a multi-year low, at less than 3 million BTC – which in turn means that the amount held by LTHs is at a multi-year high.

The report stated that “seeing STH supply this low whilst price is near ATHs is a relatively unique case.”

Although short-term holders have taken profits at “historic” high points and broken even at low points over the past week, the market is still yet to become “overly saturated with profit-taking.”

The findings indicate that there is little sign of a major capitulation just yet and the bulls may have further to run before this cycle comes to an end.  

Related: Analysts pinpoint bull and bear scenarios as Bitcoin price dips below $56K

On Oct 12, Cointelegraph reported that long term holders were sitting on 13.3 million BTC which was worth $754 billion at the time, despite not seeing any outflows for more than five months.

On Nov. 22, Chinese journalist Colin Wu tweeted in response to the report that the number of non-zero addresses has also hit an all-time high. This suggests that adoption and accumulation is still occurring despite the asset’s 18% decline from its mid-October peak price of $69K.

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Vectorspace AI (VXV) flies under the radar to new highs as big data becomes the ‘new’ oil

High level partnerships and a focus on using artificial intelligence and big data to find solutions to complex problems are backing VXV’s quiet climb to new all-time highs.

“I’m in it for the tech,” is a phrase commonly used in the cryptocurrency ecosystem by many who want to express a deeper motivation for being involved with blockchain technology beyond the significant gains that are known to happen in the volatile asset class. 

One project that has quietly climbed the charts without the need to jump on the decentralized finance (DeFi) or nonfungible token (NFT) trend is Vectorspace AI (VXV), a protocol building correlation matrix datasets capable of detecting hidden relationships in data and training artificial intelligence (AI) systems.

Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.71 on May 23, the price of VXV has skyrocketed 2,267% to a record high at $19.47 on Sept. 16 before experiencing a significant pullback alongside the rest of the crypto market.

VXV/USD 1-day chart. Source: CoinGecko

This week, the price action for VXV is once again on the rise as its 24-hour volume spiked 380% to $9.37 million on Nov. 11, resulting in an overnight price increase of 32.42% to an intraday high at $16.18.

The sudden boost in price and trading volume comes as VXV listed on the KuCoin exchange, the sixth-largest cryptocurrency exchange by trading volume.

Related: Digital intelligence must overcome challenges to solving crypto crimes

Flying under the radar

Aside from the above tweet announcing the KuCoin listing, the team at Vectorspace AI keeps a pretty low-key profile in terms of project announcements and marketing. Most of the project's Twitter feed features some of the latest developments and discoveries in the field of data analysis and bio-science.

With a focus on “context-controlled NLP/NLU (Natural Language Processing/Understanding)” and using AI to “discover hidden relationship detection in data related to space biosciences,” Vectorspace lacks many of the bells and whistles that catch the eye of the average crypto holder.

But to anyone who has been paying attention to the rising value and importance of data in the digital age, the ability to correlate and analyze large amounts of data to discover solutions that would take human years to manually analyze is the “holy grail” in the world of data analysis.

For example, early on in the COVID-19 pandemic, Vectorspace technology was able to analyze years of medical research and findings to recommend a shortlist of substances that could possibly be used as treatment, helping scientists narrow down their search and save valuable time.

The ability to generate on-demand NLP/NLU correlation matrix datasets is a highly sought-after feature for researchers, especially when it comes to finding a way to “get machines to trade information with one another or exchange and transact data in a way that minimizes a selected loss function.”

According to the project’s website, the current list of partners and collaborators include PubMed.gov, the United States Department of Energy, the National Library of Medicine, the European Molecular Biology Laboratory, the Lawrence Berkeley National Laboratory and CERN. 

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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