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This week, host Christian Keroles and guest host William Clemente sat down with Rafael Schultze-Kraft, CTO of Glassnode, for “The Bitcoin Magazine Podcast”. Glassnode is an on-chain analytics company that makes it accessible and easy for Bitcoin enthusiasts, investors, and analysts alike to get their hands on up-to-date metrics and indicators for Bitcoin and other major cryptocurrencies.
On-chain analysis uses blockchain node data to learn more about economic players using a cryptocurrency. This interview provided a comprehensive overview of Glassnode’s business, its target audience, and an in-depth look at some of the most interesting on-chain metrics that Schultze-Kraft uses every day. The participants dealt with what makes the bull market in 2021 look different than the bull market in 2017 and what makes Schultze-Kraft extremely bullish against Bitcoin in the short and long term.
The metrics mentioned in this podcast include:
- Miner Net Position: The 30-day change in the supply of miner’s addresses
- Idle state: The average number of days destroyed per coin transacted, defined as the ratio of coin days destroyed to the total transfer volume
- Coin Days Destroyed: Calculated by multiplying the number of coins in a transaction by the number of days since those coins were last spent
- Lifespan: The ratio of the sum of the destroyed coin days and the sum of all coin days ever created
- SOPR: Calculated by dividing Realized Value (in USD) divided by Value at Creation (USD) of an outputted production
- HODL waves: Each colored band shows the percentage of Bitcoin present that was last shifted within the time period indicated in the legend
- Company Net Growth: The net growth of individual companies on the network
- NUPL: Net Unrealized Profit / Loss