Puell Multiple Mining Profitability Indicator Reaches Critical Mark

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. What is Puell Multiple?
  2. Current Value of the Indicator
  3. Potential Market Implications


    4. The mining profitability indicator Puell Multiple has entered the 'green zone' for the first time since 2022, according to data from analytics firm CryptoQuant. The current value of the indicator stands at approximately 0.6, which is below the historical norm.

    What is Puell Multiple?

    The Puell Multiple is calculated as the ratio of daily bitcoin issuance (in dollars) to its 365-day moving average. When the indicator drops below 1.0, it signifies that miners' current revenue is below the yearly average.

    Current Value of the Indicator

    The current value of Puell Multiple stands at approximately 0.6, significantly below the historical norm. Historically, the indicator entering the 'green zone' has preceded significant increases in the price of bitcoin.

    Potential Market Implications

    Analysts note that this is a strong signal of a potential bullish reversal in the cryptocurrency market. Experts suggest that such metrics could attract new investors and boost confidence in bitcoin. Combined with other factors, such as macroeconomic conditions and institutional interest, this could lead to a price increase in the medium term.

    The Puell Multiple entering the 'green zone' may herald significant changes in the bitcoin market. It is worth closely monitoring further developments and considering other influencing factors.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

Strategy Halts Bitcoin Transactions for the Week

chest

Strategy did not engage in any Bitcoin purchases or sales last week, maintaining its holdings at 840,447 BTC.

user avatarKaterina Papadopoulou

Fake Downloads of The Odyssey Spread Lumma Stealer Malware

chest

Security firm Bitdefender warns that pirated copies of The Odyssey are circulating with malware designed to steal cryptocurrency wallets.

user avatarMaya Lundqvist

Shiba Inu SHIB Gains Momentum with New Listings and Adoption

chest

Shiba Inu SHIB has been listed on the Australian exchange FameEX and is now usable at Dubai Duty Free airport stores, marking significant adoption milestones.

user avatarLeo van der Veen

Rise in Wrench Attacks Targeting Cryptocurrency Holders

chest

The report highlights a surge in wrench attacks, particularly in France, where criminals are targeting cryptocurrency holders.

user avatarAisha Farooq

Massive Data Breach Exposes French Tax Records

chest

A hacker is selling a large database of French tax records that could affect over 678,000 individuals and businesses, raising concerns about phishing and identity theft.

user avatarLi Weicheng

OpenAI Faces Leadership Crisis Amid Safety Concerns

chest

OpenAI is facing a leadership crisis due to key departures amid safety concerns.

user avatarTenzin Dorje

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.