🚀 Bitcoin Network's Capital Storage Grows Significantly in 2023
#Bitcoin #CapitalStorage #CryptoQuant #SoVIndex #OnChain #OffChain #ExchangeReserves #MarketCapitalization #2023 #Investing #BTC
According to PANews, the total capital stored within the Bitcoin network has increased by 85% this year, reaching $1.03 trillion, as estimated by CryptoQuant CEO Ki Young Ju. This estimation combines both on-chain and off-chain data.
For off-chain transactions, the calculation involves multiplying exchange reserves by the Volume Weighted Average Price (VWAP) to determine the capital flowing into the market through exchanges. On-chain transactions are assessed using the Realized Cap, which tracks capital inflows from over-the-counter (OTC) trades and on-chain activities on exchanges.
These combined data points form the 'Store of Value Index' (SoV Index), which reflects the level of capital storage within the Bitcoin network.#Bitcoin #CapitalStorage #CryptoQuant #SoVIndex #OnChain #OffChain #ExchangeReserves #MarketCapitalization #2023 #Investing #BTC