• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Puell Multiple Mining Profitability Indicator Reaches Critical Mark

user avatar

by Giorgi Kostiuk

a year ago

  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.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Solana Experiences Significant Outflows Amid Market Uncertainty

chest

Solana experiences significant outflows amid market uncertainty, with over 1 million SOL leaving centralized exchanges in a 72-hour period.

user avatarLi Weicheng

Solana Faces Critical Support and Resistance Levels

chest

Analysts highlight Solana's struggle between fragile support and overhead resistance, with critical levels identified. Currently, Solana is consolidating around the $83-$87 area, which is viewed as critical short-term support.

user avatarAisha Farooq

Robinhood Reports Fourth Quarter Revenue of $128 Billion

chest

Robinhood reported fourth quarter revenue of $128 billion, a 27% year-over-year increase, but net income fell 33% to $605 million, leading to a 6.5% drop in stock price.

user avatarTenzin Dorje

Robinhood Expands Prediction Markets Amid NFL Season

chest

Robinhood has expanded its prediction market offerings to allow customers to make parlay-like bets, capitalizing on the surge in gambling during the NFL postseason.

user avatarBayarjavkhlan Ganbaatar

Bitmine Immersion Boosts Ethereum Holdings Amid Market Volatility

chest

Despite market volatility, institutional investors like Bitmine Immersion are increasing their Ethereum holdings.

user avatarElias Mukuru

XRP's Long-Term Outlook Remains Bullish Despite Short-Term Pain

chest

Diana connects XRP's current pullback to a larger cup-and-handle formation, suggesting a bullish continuation.

user avatarMohamed Farouk

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.