Blog

Dan Opondo

Crypto Leaving Exchanges, How Much?

In the crypto world, there’s a common statistic that gets repeated a lot without much scrutiny. Right now, crypto leaving exchanges is a common idea. You see headlines about exchange reserves hitting lows not seen in years, big players moving Bitcoin to cold storage, and ETFs buying up supply. The general thinking is that this ...

Dan Opondo

31%: The Bitcoin Profit Number Nobody Quotes

Are Bitcoin holders in profit or loss? Well, the answer could be different depending on who you ask. The truth is, a number known mostly to analysts is 56% paper gain. It’s the all-holder MVRV reading of 1.56× on September 28, 2026.  Buried lower on the same page is the “typical coin,” a second figure ...

Dan Opondo

Did 31% of Bitcoin Users Vanish?

Bitcoin’s network looks emptier than it did in 2021, but the “31% of users vanished” claim doesn’t hold up. The real story is quieter and arguably more interesting. Scroll through crypto social media and you’ll get to see 31%, a number that seemingly scares many in Bitcoin corridors. It is said that 31% of Bitcoin ...

Dan Opondo

Binance buyers back at 2020 highs

Binance Buyers Are Back at 2020 Levels 

Deep in a CryptoQuant chart sits a line most traders never see, the 200-day average of Binance’s “Taker Buy/Sell Ratio. Interestingly, it has just done something it hasn’t done in years. It climbed from about 0.973 in February to 1.012. That moved it from a market led by sellers to one where aggressive Binance buyers ...

Dan Opondo

Does 689,939 Daily Active Addresses Mean 689,939 Real Daily Users?

Scroll through social networks like X, or other on-chain dashboards any day, and you’ll see talks of Bitcoin’s daily active addresses, either surging or dropping. The number making rounds when writing this report is 689,939. This represents the count of unique Bitcoin addresses that sent or received a transaction in a single 24-hour window, as ...

Dan Opondo

Is 94% Ethereum L2 Activity a Market Shift or Just a Number?

Ethereum, said to be the world’s second largest blockchain ecosystem is shrinking. It’s not a shrink of the ecosystem, No. Rather, it is a vast drop in the network’s share of decentralized finance and units. Since mid 2024, Ethereum L2 activity is seemingly beating the transaction count on mainnet. Key takeaways Ethereum’s base chain, the ...