Welcome to our new monthly Analyst Retrospective series.

In these reports, we'll look back on the previous month, sharing the most interesting (or weird) trends in the crypto markets.

Whether you are a long-term HODLr or a cautious investor trying to get a sense of this nascent asset class, we are confident that there is something you will find valuable in the attached report. Our aim is to simplify and improve access to on-chain data, and provide fundamental analysis to cut through the noise.

The second instalment of the series highlights that while Bitcoin reserves on both spot and derivative exchanges hit a peak at the start of June 2021, this has however been slowly reverting. While reserves still remain higher than the start of the year, spot markets have been heading in a distinctively downward trajectory. The number of Bitcoin held on exchanges has flatlined since mid-June heading into Q3, 2021. Ethereum, on the other hand, has seen over 1 million coins scooped off from exchanges since the end of May. While it might be early to say confidently, there is the potential for fundamentals to break correlations of a market that has remained lumped together. Copper looks at various metrics that show small signs of reprieve.

DISCLAIMER

THE INFORMATION CONTAINED WITHIN THIS PRESENTATION IS FOR PROFESSIONAL INVESTORS, REGULATED FINANCIAL ADVISERS AND THEIR INVESTORS ONLY. ALL INVESTMENT IS SUBJECT TO RISK. THE VALUE OF DIGITAL ASSETS MAY GO DOWN.