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November 10, 2020

OnChain Reaction

Why bitcoin has been pretty extraordinary over the past 10 weeks with Chainalysis


Philip Gradwell, chief economist at Chainalysis, provided this week’s onchain reaction.

(43:40) Bitcoin is in its tenth week with an average price above $10K. Gradwell said it’s pretty extraordinary, considering there’s only been two other times that bitcoin has maintained a high price above 10K for multiple weeks —in late 2017 to early 2018 for 13 weeks and again in mid-to-late 2019.
(44:16) Over the last week, bitcoin exchange balances have likely increased a small amount.
(46:02) Ethereum has become increasingly liquid with the growth in DeFi opportunities.

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Gerelyn Terzo
Gerelyn caught wind of bitcoin in mid-2017 and after learning about the peer-to-peer nature of Satoshi's creation has never looked back. Previously she covered institutional investing and fintech for several major trade publications. Gerelyn resides in Verona, N.J.

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