This May Be Significant From a Long-Term Perspective.
Santiment, an on-chain analytics company, noticed two enormous surges in total transactions exceeding $1 million on July 20. A whale was on the move. Through five transactions, 46,000 BTC was transferred between wallets on July 20.
Additionally, it notes that between July 18 and July 21, the typical investment period for DOGE decreased from 264 days to just 207 days. Noting that “Dogecoin looks like a good asset to keep an eye on, with its Mean Dollar Invested Age (MDIA )going all the way back to May levels in just a blink’’.
Speaking on the developmental milestones reached for XRP in the past week, ‘’XRP is ahead of the altcoin pack recently, and some major milestones have hit over the past week. In addition to several massive active address spikes firing off, there have been massive dormant tokens shifting addresses this week. Keep a close watch’’.
Regarding Litecoin, it says: ‘’Litecoin’s recent Mean Dollar Invested Age Drop from a couple days ago was a relatively minor one. However, for an asset that doesn’t see a lot of dormant movement very often, any small drop is worth paying attention to. Its largest dormant move via its MDIA over the past year was from November 5th to 9th, and LTC jumped an incredible +50% during that 4-day stretch’’.
‘’Maker has retraced these past three days, but whales have just gotten active in the closing hours of the trading week. This candle is on pace to be the most 100k+ MKR transactions since June 30, where prices then jumped +17% over the following week “, the onchain analytics firm reports for Maker (MKR).
Here Is What This Might Imply for Price
The Mean Dollar Invested Age for the XRP Network has recently dropped by the most since December 2021. The price of XRP increased by 19% during that brief, 5-day MDIA dip.
The average age of all coins and tokens on the blockchain, weighted by the price at which they were purchased, is known as the mean dollar invested age. It is, in other words, the average age of the money invested in a particular asset.
The MDIA tends to indicate some unsettling stagnancy on a coin’s network if it rises for an extended period of time (months at a time). A stagnant economy also makes it difficult for prices to keep growing.
However, if an asset’s MDIA is beginning to decline, this suggests that long-dormant addresses are starting to “wake up’‘, moving substantial quantities of coins that have been sitting for some time. Drops in the Mean Dollar Invested Age typically serve as confirmation that a price increase for that particular asset is much more likely to take place in the near term. This may be significant from a long-term perspective.