Chain News by Thebittimes.Com

Coinciding with the crypto market’s newfound bull run, Solana (SOL) has made significant strides, rising by over 175% in the last 30 days. The recent crypto market upturn has not only propelled Bitcoin (BTC) to an 18-month-high but also triggered massive gains for Solana, effectively pushing it over the $20 billion market cap milestone.  FTX wallets unstake $160M in SOL Recently, analysts at Lookonchain reported a substantial unstaking of $160 million worth of SOL from FTX-linked wallets. This move resulted in a dip in the price of Solana’s native SOL token, dropping to around $40, before orchestrating a recovery. Despite this significant unstaking event, Solana’s price is still holding strong. You might also like: Solana trading volume surges amidst market rally Popular crypto trader, Bluntz, observed a consistent selling pattern by FTX, ranging between 250k-700k SOL daily for the past two weeks. Surprisingly, this selling pressure hasn’t deterred...

If there’s one thing practically every cryptocurrency holder or speculator has attempted to do, it's predict or identify the bottom of a bear market for the bitcoin price. Given that the delta between a trough and a subsequent all-time price high can be in the range of tens to hundreds of percentage points for popular cryptocurrencies, the potential benefits of building an accurate model to identify peaks and troughs are enormous. Until recently, most models were only able to identify either the top or the bottom of a market with reasonable accuracy. But Glassnode, a prominent on-chain analytics and research firm, recently unveiled a novel model to accurately identify both — with a 100% hit rate against backtested data. The new model, known simply as the drilling method, leverages multiple new and existing data points to help accurately identify market extremes — providing an additional source of data for traders and speculators. This is how it wor...