The cryptocurrency space is always buzzing with exciting developments. First, the potential for a 5,000x return with Sparklo (SPRK) has sparked excitement in the crypto community.
With such growth potential, investors are eager to jump on board and see where the future of Sparklo (SPRK) leads. However, the recent asset movement could spell doom for the flagship cryptocurrency, Bitcoin (BTC).
Is Bitcoin (BTC) About To Dip?
According to on-chain data, a significant amount of Bitcoin (BTC) that had been dormant for over seven years has moved recently. This development could indicate bearish implications for the coin’s price.
A CryptoQuant post argued that the historical movement of such long-dormant Bitcoin (BTC) has resulted in a price decrease in the past. This observation is based on the “Spent Output Age Bands” (SOAB) indicator, which monitors the current movement of coins within each age band of the Bitcoin (BTC) market.
In this context, “age bands” refer to groups of coins that are categorized according to how long they have remained inactive within a particular wallet address. To illustrate, the 1-day to 1-week band encompasses all coins that have been dormant on the blockchain between one day and one week.
On-chain data tracker, CryptoQuant has reported a significant surge in the Bitcoin (BTC) SOAB (Spent Output Age Bands) for the 7-10 years age band. This suggests that a considerable amount of long-standing inactive coins were transferred recently.
Typically, when holders of such old Bitcoin (BTC) make any movements, it could imply that they want to dump their coins. Such action could cause a significant price drop for that token. According to CoinMarketCap, the price of Bitcoin (BTC) is $28,796, a drop of 2.08% price in the last 24 hours.
Sparklo (SPRK): Why Investors Believe It Has the Potential to Increase 5,000 Times
Sparklo, the first-ever metal trading platform, is taking the crypto space by storm with its latest innovative solution – fractionalization. This solution allows people to buy fractional portions of rare metals like silver, gold, and platinum.
This innovative solution has attracted several investors to the platform. Moreover, experts are bullish on the prospects of the ecosystem in the coming months. They believe that Sparklo (SPRK) can hit a 5,000x return one year after its launch due to its large market potential.
Notably, the project will be functioning in one of the major sectors of the world economy – precious metals. According to reports, the world gold market is worth around $13.3 trillion while silver and platinum have a market capitalization of $1.42 trillion and $273 billion, respectively.
According to investors, the project is expected to rank among the top 100 cryptocurrencies by market capitalization within a year of its launch. During this presale season, the Sparklo (SPRK) token is priced at $0.015 per token.
Find out more about the presale:
Website: https://sparklo.finance
Presale: https://invest.sparklo.finance
Twitter: https://twitter.com/sparklo_finance
Telegram: https://t.me/sparklofinance