Top 5 Watershed Moments In BTC On-Chain Analysis’ History. Is Your Favorite In?

These five moments shaped Bitcoin On-Chain analysis. Down below you’ll find a basic 101 article that reviews the basic concepts of the trade. If you have any problem with the list, David Puell is to blame. He’s a full-time on-chain analyst and the creator of MVRV and Puell Multiple. He didn’t include the metrics he created on the list, which says a lot. Related Reading | Lessons From Reason’s “The Fake Environmentalist Attack on Bitcoin” Mini-Doc In the following article, there’s also something for on-chain analysis experts. A side game called: Did your favorite moment make it? 1. ByteCoin invents cointime destroyed in 2011, the very first on-chain metric ever, still used today, and first metric to detect holding behavior in any financial asset. — David Puell (@kenoshaking) February 17, 2022 Anyway, let’s get into it. On-Chain Analysis Moment #1- ByteCoin Invents Coin Days Destroyed (CDD) AKA Coin Time Destroyed Invented In 2011, according to Puell CDD is “the very first on-chain metric ever, still used today, and first metric to detect holding behavior in any financial asset.” How does the metric detect holders, though? According to Glassnode Academy, “Coin Days Destroyed is a measure of economic activity which gives more weight to coins which haven’t been spent for a long time.” So, the first eureka moment was to get the coin’s age into the equation. That way, the all-important holders entered into the equat...