The on-chain analytics company, Santiment, highlighted two key metrics in relation to the XRP network in a recent analysis. The first noteworthy measure is the “Supply Distribution,” which, among other things, provides insight into the number of wallets within a specific coin range.

The range of particular interest is wallets holding over 1 million coins – translating to roughly $2.2 million based on the current exchange rate. Such a significant amount is typically held by only large-scale investors, colloquially referred to as ‘sharks’ and ‘whales’. The influence of these entities can be considerable due to their substantial holdings and is thus worth monitoring.

Santiment’s chart showcasing the trend in Supply Distribution for these large-scale holders over the past year reveals an uptick in the number of wallets holding over a million XRP coins. This suggests that new high-value investors may have entered the network. The number of such wallets has now reached a record high of 2,708.

The second metric of interest is the ‘Daily Active Addresses,’ which represents the unique total number of wallets involved in transactions on the network daily, either as senders or receivers. This metric is primarily indicative of the activity of smaller, retail entities on the network.

The data shows a significant spike in the XRP Daily Active Addresses, with an average of 295,000 active addresses per day in the past week. This is a considerable increase from the 35,000 to 40,000 active addresses per day observed over the previous three months.

Santiment concludes, “The XRP ledger is demonstrating substantial growth, both in terms of usage and key stakeholder activity.” It remains to be seen how these network metric changes will impact the cryptocurrency’s price.

Yesterday, XRP’s price soared past the $2.33 mark. However, the bullish momentum seems to have subsided with the price dropping back to $2.20.

The post XRP Indicators Soar: Major Wallets Hit Unprecedented Levels appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

While Bitcoin still lags around 4.2% behind its all-time high of $111,000, achieved last month, the weekly trend indicates a 3.3% growth, indicating that buyers are slowly regaining their faith. This market sentiment is reflected in a series of on-chain metrics studied by CryptoQuant contributor Amr Taha.

In his analysis, “On-Chain Data Hints at Bitcoin’s Next Leg Higher,” Taha scrutinized several metrics that suggest the rally may continue. These include the Binance Taker Buy/Sell Ratio, UTXO age bands, and the Long-Term Holder (LTH) realized cap. All three hint at active accumulation and a shift towards renewed bullish sentiment among market participants.

Taha highlighted Binance’s Taker Buy/Sell Ratio, which recently reached 1.1. This ratio assesses the volume of aggressive market purchases against market sales on the Binance exchange. A ratio over 1 often suggests a stronger buying conviction, implying more participants are ready to buy at market price than sell.

Another potent metric is the Buy/Sell Pressure Delta over the last 90 days. This metric shows the net difference between buying and selling pressure and is now halfway to its historical peak at 0.02. According to Taha, this implies a market with more room for accumulation, not yet overheated.

Taha also pointed out that the Long-Term Holder (LTH) Realized Cap has now exceeded $56 billion, reflecting that strong hands hold a larger portion of Bitcoin supply. These coins, which have not moved in over 155 days, represent investors with higher conviction. The rise in this metric suggests many investors anticipate higher valuations in the forthcoming weeks or months.

Furthermore, over $550 million in stablecoins have reportedly flowed into Binance recently. Such inflows into spot exchanges often signify readiness to deploy capital for direct asset purchases.

All these indicators can be interpreted as a leading signal of potential volatility or buying pressure. If this trend continues, Bitcoin’s short-term price movement may benefit from ongoing accumulation and institutional positioning.

The post Can Bitcoin Bounce Back to $110K? On-Chain Metrics Look Promising appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.