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<p>The indicator has grown by more than 50% compared to the last record in the network of the main <strong>cryptocurrency</strong>.</p>



<p>The weekly volume of transactions on the <strong>bitcoin network </strong>has exceeded $ 8 billion and has updated its all-time high, according to the analytical service Glassnode. </p>



<p>The volume of <strong>Bitcoin </strong>transactions for the week exceeded the previous record by more than 50%. During this period, the <a href="https://twitter.com/TXMCtrades/status/1431736287871094789" target="_blank" rel="noreferrer noopener">volume </a>of transfers in US dollars did not show a record growth. </p>


<blockquote class="twitter-tweet">
<p lang="en" dir="ltr">As <a href="https://twitter.com/_Checkmatey_?ref_src=twsrc%5Etfw">@_Checkmatey_</a> rightfully pointed out to me, Entity-Adjusted Transfer Volume in USD is not showing the same spike as raw Transfer Volume. </p>
<p>This suggests the spike from earlier is an internal transfer and not a sign of new bullish demand. </p>
<p>A quiet mempool supports this thesis. <a href="https://t.co/dENkxzSJjU">https://t.co/dENkxzSJjU</a> <a href="https://t.co/gpaKkt6u7w">pic.twitter.com/gpaKkt6u7w</a></p>
<p>— TXMC (@TXMCtrades) <a href="https://twitter.com/TXMCtrades/status/1431736287871094789?ref_src=twsrc%5Etfw">August 28, 2021</a></p></blockquote>
<p> <script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>



<p>This may indicate that most of the transactions are internal transfers on the <strong>bitcoin network</strong> (for example, transfers between <strong>crypto exchanges</strong>).</p>



<div class="wp-block-image"><figure class="aligncenter size-full is-resized"><img src="https://cointopsecret.com/wp-content/uploads/2021/08/756303351755517.jpg" alt="" class="wp-image-6319" width="773" height="385"/></figure></div>



<p>Analysts at <strong>Glassnode </strong>indicated that <strong>Bitcoin </strong>is currently at the top of a strong support zone. The price of the main <strong>cryptocurrency </strong>is concentrated in the range of $ 45-50 thousand. </p>



<p>According to analysts, this indicates a strong cumulative demand. In other words, <strong>crypto </strong>investors are accumulating <strong>bitcoin </strong>in anticipation of its growth.</p>


<blockquote class="twitter-tweet">
<p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&;ref_src=twsrc%5Etfw">#Bitcoin</a> price is currently sitting at the top end of a strong on-chain support zone.</p>
<p>Over 1.65M <a href="https://twitter.com/search?q=%24BTC&;src=ctag&;ref_src=twsrc%5Etfw">$BTC</a> now have an on-chain cost basis within the $45k to $50k range</p>
<p>The green zone below, at $31k to $40k, is also home to another 2.98M <a href="https://twitter.com/search?q=%24BTC&;src=ctag&;ref_src=twsrc%5Etfw">$BTC</a>, indicative of large accumulation demand <a href="https://t.co/P5W3zlvrSU">pic.twitter.com/P5W3zlvrSU</a></p>
<p>— glassnode (@glassnode) <a href="https://twitter.com/glassnode/status/1432254092252835845?ref_src=twsrc%5Etfw">August 30, 2021</a></p></blockquote>
<p> <script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>



<p><strong>Bitcoin </strong>is up 33% since early August. On August 30, the main <strong>cryptocurrency </strong>is trading at $ 47.9 thousand, and its <strong>capitalization </strong>is $ 901 million. </p>



<p>On August 23, the cost of <strong>bitcoin </strong>for the first time since mid-May exceeded $ 50 thousand.</p>



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