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The on-chain analysis platform, Glassnode Alerts, took to Twitter earlier this morning to share some new data about the crypto market leader Bitcoin (BTC). According to the post, BTC’s Realized Price has reached a new 1-month high.
The data indicates that BTC’s Realized Price now stands at $19,994.95. The previous high was recorded only yesterday, and stood at $19,994.76. A cryptocurrency’s Realized Price is calculated as its Realized Cap divided by the total coin supply. It can also be interpreted as the on-chain support or resistance price.
CoinMarketCap indicated at press time that BTC was trading hands at over $29k. This means that BTC’s market price is higher than its Realized Value, which is a good sign for the crypto king. As a rule, the market price is usually above the realized price and it very rarely goes under.
As mentioned before, BTC was trading hands at $29,090.32 at press time after a small price increase of 0.10% over the past 24 hours. The crypto was also able to set a 24-hour high of $29,488.16 and a daily low of $28,694.04 over this time.
BTC’s price increase was enough for the market leader to strengthen against its biggest competitor, Ethereum (ETH), by about 0.16% throughout the past day. When it comes to BTC’s 24-hour trading volume, however, CoinMarketCap indicated that it was in the red zone, and stood at $16,713,375,965 after a more than 13% decrease.
Unfortunately, BTC’s performance over the past day was not enough to push its weekly performance into the green as the crypto was down 0.57% over the past seven days. BTC also experienced a 0.04% price drop in the hour before press time.
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