• 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

2 years 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

Brian Armstrong Discusses Tokenization at Coinbase

chest

In a recent discussion, Brian Armstrong shared his insights on the future of tokenization in the cryptocurrency space, exploring its potential impact on the market.

user avatarJesper Sørensen

Bitcoin Derivatives Call Gains Attention Amid Negative Funding Rates

chest

A fresh Bitcoin derivatives call is gaining attention after That Martini Guy argued that negative funding rates may reflect profit-taking rather than aggressive shorting.

user avatarRajesh Kumar

Agreement Reached on CBDC Ban

chest

Agreement reached on the ban of Central Bank Digital Currencies (CBDCs) to address financial stability concerns.

user avatarLucas Weissmann

Bitcoin Traders Anticipate Federal Reserve Decision Amid Rate Cut Hopes

chest

Bitcoin traders are closely monitoring the upcoming Federal Reserve decision as hopes for a rate cut diminish and macro volatility remains high.

user avatarFilippo Romano

New Digital Asset Tax Act Introduced

chest

The Digital Asset Tax Act has been introduced, emphasizing strict editorial policies that focus on accuracy, relevance, and impartiality.

user avatarEmily Carter

Sam Bankman-Fried Hints at New Token for FTX Victims Amid Legal Challenges

chest

Sam Bankman-Fried hints at a new token project aimed at repaying FTX victims, despite facing significant legal challenges.

user avatarTomas Novak

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.