The Week On-chain: Binance Stablecoin Shuffle - Week 14, 2023 (Bitcoin Onchain Analysis)

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With Binance firmly in the cross-hairs of US regulators this week, we investigate how the market has responded by deep diving into net coin flows through the exchange. We also assess the supply dynamics of Bitcoin, to gauge the shaking of holder confidence.

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Topics for Discussion:
- Observations regarding the Binance asset mix and flows.
- Analysis of the structural trends in stablecoins at Binance.
- Gauging where Bitcoin is within the market cycle.
- Tools to track HODLer conviction and sentiment using Supply.

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Timestamps
0:00 Introduction
2:35 Aggregate Stablecoin Supplies
4:52 Stablecoin Exchange Netflow (Binance)
6:25 Exchange Balance (Binance)
8:00 Balance of Major Assets on Binance
10:52 Realized-to-Liveliness Ratio
13:30 MVRV Ratio
17:10 Accumulation Trend Score
19:04 Realized Cap HODL Waves
20:23 HODL Wave Dynamics Dashboard Deep Dive
26:30 Summary and Conclusions

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About:
The Glassnode video report provides a weekly analysis update of the trends, performance, and onchain metrics for Bitcoin and the crypto market.

Disclaimer:
This report does not provide any investment advice. All data is provided for information purposes only. No investment decision shall be based on the information provided here and you are solely responsible for your own investment decisions.