yblockchain_

Every day, the number of contracts on the Ethereum Blockchain continues to grow. And we are updating ATH daily. We believe that this is a natural consequence of the inevitable increase in the number of contracts, as it is now possible for anyone to deploy them with ease. It is important to note here that while the number of contracts is increasing daily, the number of contracts involved in fraud is also increasing. Recently, fake USDC contract approvals have been seen in a number of wallets, and there have also been malicious fraudulent contracts that deploy large amounts of Token by revoking them. I think we should reiterate that we must address these situations from time to time.  

My guess is that this year's MitTop is likely to be $45,000. I will now explain my reasoning. 1. the Puell Multiple suggests a positive trend Puell Multiple is an indicator calculated by comparing the moving average of Bitcoin production (mining fees) over the past 30 days. When this indicator is high, it indicates a high price for Bitcoin mining rewards. Conversely, a low value for this indicator suggests a low price for Bitcoin mining rewards. Puell Mutiple Analysis Methodology Red Zone ➪ Market may be overripe (near Top) Green Zone ➪ Market may be cooling (near bottom) 2. the previous NUPL is working in an uptrend. Please refer to the previous CQ Insights for a description of the NUPL. Briefly, it has reached the Optimism zone, which suggests it is relatively positive. 3. the MidTop indication (350DMA) of the Pi Cycle Top indicator is around $45,000. Although not a CQ indicator, the "Pi Cycle Top indicator" published on another site has been able to guess past mid-term ceilings. Since I don't think the rise this year will be ATH, I think the Top this year will be around $45,000, which is located at the 350 DMA moving average line. Because, considering that a recession is factored in around the end of this year. Based on these three reasons, I believe that the ceiling for this year is at $45,000. *This analysis is just my personal view, so please take your own risk when you invest. You can also follow me on Twitter if you like 😌 @yblockchain_  

The On-Chain Data here is an indicator of the total unrealized gains and losses in the Bitcoin network. The NUPL can also be used to analyze past market movements by suggesting at what level Bitcoin prices have traded in the past. Analytical Methods of NUPL👇 NUPL is high ➪ Profitable and the market is overripe (ceiling) (Belief, Euphoria) NUPL is low ➪ Losses are being made and the market is falling (near bottom) (Capitulation) Therefore, the current NUPL value has reached the "Optimism" zone and has recently shown a significant increase. I personally believe that this is due in part to the fundamentals of Bitcoin ETF filings across the board.