The majority of CRO holders remain in profit.
As evidenced by the graph above, using IntoTheBlock’s In/Out of the Money indicator, we are able to reveal that over 60% of the addresses holding CRO are experiencing profits.
The In-Out-Money(IOM) signal has become one of the most popular analytical signals of the IntoTheBlock platform. Conceptually, the IOM analysis provides a statistical distribution of aggregated positions of investors in a crypto-asset relative to the current price. That’s a fancy way to say, that IOM shows you different groups of investors realizing gains and losses in a crypto-asset.
Moreover, by comparing the historical profitability of CRO’s holder, we can observe a shift since the January lows.
- As the price of CRO started to increase again, we can observe how the number of holders increased from 108,420 addresses to 139,200 recently.
- Strong profitability from holders represents a strong bottom, as these addresses are looking to remain profitable.
Using the Balance by Time Held indicator, we can track if the addresses holding for less than 1 month are increasing or decreasing their positions.
- What’s interesting is that, as SLP is gaining more traction and noise in social media, it appears that short-term holders are increasing their positions.
- The balance held by these “traders” increased by 145% over the past 30 days. This activity tends to relate with higher speculation, which as tokens like Mana or Sandbox experienced in late 2021, lead to a new ath in price.
CRV is the native token of Curve Finance. Although Curve remains one of the leader DeFi protocols, the token has not been reflecting this activity lately.
In this edition, let’s analyze the number of Daily Active Addresses.
- DAAs are a helpful metric to track network activity over time. In general, growing DAAs signal greater blockchain usage, while declining DAAs point to lower demand for the network. DAAs tend to be correlated with price activity. As such, DAAs can often add as a leading indicator for price action as can be seen in the graph above.
- The number of daily active addresses has been closely following the price of CRV.
- As the price has been decreasing consistently in 2022, so it has the number of active addresses.
- CRV may need a catalyst to bring back the interest from investors