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 Hiding Place 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, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Optimism Releases Required Batcher Update v1170

Optimism has announced the release of opbatcher v1170, which is mandatory for operators using the batching infrastructure for OP Stack chains.

user avatarAndrew Smith

NEAR Developers Release First Candidate for nearcore 2140

The NEAR developers have published the first release candidate for nearcore 2140, introducing significant protocol and database changes.

user avatarJacob Williams

Lido Completes Winddown of Regular Simple DVT Clusters

Lido has successfully completed the winddown of its regular Simple DVT clusters, marking a significant step in the decentralization of its validator operations.

user avatarZainab Kamara

Avalanche Schedules Helicon Network Upgrade for September 22

Avalanche has announced the Helicon network upgrade for its mainnet, set to activate on September 22 at 1500 UTC.

user avatarSon Min-ho

Uniswap Proposes Protocol Fee Rollout to Circles Arc Blockchain

Uniswap Labs has introduced a proposal to extend its protocol fee collection and UNI burn infrastructure to the Arc blockchain.

user avatarAyman Ben Youssef

Aave V4 Now Live on Circle's Arc Blockchain

Aave V4 has officially launched on Circle's newly established Arc blockchain, featuring key assets such as USDC, EURC, cirBTC, and WETH.

user avatarTando Nkube

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.