Bitcoin (BTC) and Ethereum (ETH) embarked on an action-packed journey last week characterized by significant stock market movements. However, these two leading cryptocurrencies have produced different results in terms of returns for investors.
Bitcoin and Ethereum witnessed major stock market debuts
Bitcoin and Ethereum witnessed significant outflows from centralized exchanges last week, totaling nearly $200 million, according to data from IntoTheBlock. There is a deeper analysis using CryptoQuant’s insights. Accordingly, this provides greater clarity on the size of assets exiting exchanges.
Bitcoin, in particular, has experienced a notable emphasis in exchange net flow. At the end of the previous week, on October 14, an important development occurred. Accordingly, a significant increase occurred, marking the highest output observed throughout the year. Exits continue to dominate. When we look at it as Kriptokoin.com, a significant change in the model emerged as small entries made their presence felt. Apart from Bitcoin, Ethereum also showed a similar trend. Accordingly, although there was a visible interruption in this model on October 20, the outflows were dominant. As of the last update, outflows have once again taken the lead in the ETH exchange flow.
Significant volume movements in both BTC and Ethereum
Santiment’s volume metrics show that both Bitcoin and Ethereum are experiencing significant volume movements. Bitcoin recorded an impressive volume of over $28 billion over the past week. At the time of this update, it has fallen to approximately $18 billion. However, it remains close to the highest volume seen in September.
Ethereum’s transaction volume is not as significant as that of Bitcoin BTC. On the other hand, it still showed a remarkable increase with volumes hovering around 6 billion dollars. The difference in the volume of these two cryptocurrencies is striking. Despite this, a common conclusion can be made. There was significantly increased trading activity in both markets.
Different stories from owners
Short-term Bitcoin holders have seen positive developments in their holdings, as shown by the 30-day Market Cap to Realized Value ratio (MVRV). This metric revealed that BTC holders were in profit by approximately 6.6%.
In contrast, Ethereum holders did not experience the same fortune, although they were still at a loss of less than 1%. There has been a noticeable improvement in the 30-day MVRV for Ethereum holders. Accordingly, this points to some positive changes. The opposite exchange movements of Bitcoin and Ethereum attract attention. The cryptocurrency landscape remains dynamic, showing varying results for its respective holders.
To be informed about the latest developments, follow us Twitter’in,Facebookin and InstagramFollow on . Telegram And YouTube Join our channel.