Willy Woo is a Popular on-chain analyst.
Then, he goes on to note one under-the-radar metric, suggesting how ETH is getting ready for an impressive rise.
Furthermore, Wily Woo is the founder of The Bitcoin Forecast with 818,400 Twitter followers.
Additionally, Woo explains.
“While BTC is building up strength for ATH escape velocity,..”
“ETH is quietly building even stronger on-chain fundamentals not yet reflected in price.”
Then, Willy highlights.
Notably, Supply shock is a metric that predicts a crypto’s price. Of course, this is through analyzing how many coins are in the hands of people. Then, with a history of selling versus those that don’t wish to.
More so, Woo explains,
“At first glance you can see the Supply Shock model tracks price quite closely…”
“A closer look shows Supply Shock LEADS price…”
“This makes sense as we are tracking the intent of investors BEFORE their action to buy or sell.”
So, Willy continues.
“For example if a long-term investor that historically accumulates moves enough coins to…”
“another entity (usually it’s to an exchange) all coins held by that investor become…”
“re-classified as liquid or highly liquid as the intent…”
“of the investor is now considered to have changed.”
Recall, Woo already states how Bitcoin (BTC) is in competition with gold as a hedge against inflation.
Lastly, Woo highlights the idea in a tweet noting that decentralized finance (DeFi) will compete against the traditional banking sector for market share.
So, Woo explains.
“1) Valuation of the banking sector: $7.3T
2) Valuation of inflation hedges (store of value assets): approx $500T”
“DeFi is competing for (1). Bitcoin is competing for (2).”
Then, Woo concludes.
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