[Weekly Readings] LUNC Prices Skyrocket Over 160%，ETH Funding Rate At 14-Month Low

HuobiPublished on 2022-09-03Last updated on 2022-09-05

Abstract

On-chain data shows around 5k BTC that was sitting dormant since between 7 years to 10 years ago has just been moved.

1.Ethereum Funding Rate At 14-Month Low, What Does it Mean for ETH Price?

After Fed Chairman Jerome Powell’s speech last Friday, the broader equity markets and cryptocurrencies have come under severe pressure. The world’s second-largest cryptocurrency Ethereum (ETH) has seen a 12% drop in its price over the last weekend. As of press time, ETH is trading 2.66% down at a price of $1453 with a market cap of $177 billion.

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2.Ancient Bitcoin Whales Are Awakening, What's Happening?

According to the most recent CryptoQuant article, the number of ancient Bitcoins that entered the market circulation spiked significantly as the first cryptocurrency took a dive below the $20,000 threshold.

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3.Bitcoin Bearish Signal: 7yr-10yr Old Coins Display Movement

On-chain data shows around 5k BTC that was sitting dormant since between 7 years to 10 years ago has just been moved, a sign that may be bearish for Bitcoin.

Bitcoin Spent Output Age Bands Show Movement Of 7yr-10yr Old Coins

As pointed out by an analyst in a CryptoQuant post, whenever such aged coins have moved before in this year, BTC has seen generally bearish trend.

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4.Terra Classic (LUNC) Prices Skyrocket Over 54%; Here’s Why

Terra Classic (LUNC) price grabbed the spotlight today as it has gained 54.62% in the last 24 hours at US$0.000241 per token. At the time of writing Terra Classic posted a 24-hour trading volume of $1.04 billion. With a live market cap of $1.5 billion, the coin currently ranks at #208, as per CoinMarketCap’s data. 

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5.62% Of Addresses Keep Their Bitcoin Holdings For Over A Year In Bear

The year 2022 has proved to be unfavorable for the crypto market. The industry has been facing a long lasted bear trend, with the flagship coin, Bitcoin, nearly down 70% then its ATH of November 2021. Still, the market fear has not ruined the investors’ interest in Bitcoin. Data shows that more than half of investors continue to keep their BTC holdings even in the crypto winter. 

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