According to Bloqport’s recent data, bitcoin, which has ended the month of March with an overall gain of 29%, has now been in the uptrend for six consecutive months. The data also shows that the crypto asset’s value has nearly doubled from its December 2020 closing price of $29,383 to its current value of $58,647. With this fast run, bitcoin has already outperformed many other assets including gold.
Adding to the strength of Bitcoin, New research from Glassnode, an on-chain data platform, shows continued growth in bitcoin (BTC) held between one month and six months, indicating strong conviction behind the recent price rally. According to the research, New Holder’s (meaning, those holding crypto) are sitting on a near 500% increase since October. BTC purchased between $10,800 and $58,800 now represents 25% of the total supply without any sign of slowing down. This means Holder’s have continued to accumulate BTC throughout this bull market.
Another news joins favoring the bull move of BTC , In the upcoming week, US-based major crypto exchange Coinbase might provide more details about the status of the crypto market in the first quarter of this year as it aiming towards direct listing of its shares on April 14.
On April 6, the company will hold a conference call to discuss its first quarter 2021 estimated results and will provide a financial outlook for 2021.Unlike the traditional initial public offering (IPO), in a direct listing, the company sells shares directly to the public without any help from intermediaries. Coinbase previously said it will not raise any new capital during this listing. As per the report, it was valued at around USD 90bn during its final week of trading on Nasdaq’s private market.
According to Coinbase, they had 43m verified users last year and 2.8m monthly transacting users. Also, they claim that they work with 7,000 institutions and 115,000 ecosystem partners in over 100 countries.
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