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Grayscale: Valuing Bitcoin
Grayscale Investments’ research team unpacks a handful of supply-side and demand-side metrics to help investors think about BTC valuation. Demand indicators like Active Addresses and Daily Network Activity as well as Supply Indicators like Bitcoin Days Destroyed and Realized Capitalization are examined to reveal the current market structure is reminiscent of early 2016, the period that preceded Bitcoin’s historic bull run.
Noelle Acheson
Noelle Acheson is host of the CoinDesk "Markets Daily" podcast, and author of the Crypto is Macro Now newsletter on Substack. She is also former head of research at CoinDesk and sister company Genesis Trading. Follow her on Twitter at @NoelleInMadrid.
