Yan Liberman, cofounder at Delphi Digital, breaks down all kinds of data from the Bitcoin blockchain to give a snapshot of where Bitcoin is at this point in its development and glean where it might go in its future. We discuss:  Bitcoin's wealth distribution and how that has changed over time what whales have been up to recently and how that compares with their behavior in previous bull and bear markets what data on multi-sig transactions tells us what companies serving the institutional and retail markets are seeing in terms of customer demand activity to and from exchanges, and what those trends mean what unspent transaction outputs tell us about investors' mindset now and the market value to realized value (MVRV) — what it is and what the current MVRV says about where Bitcoin is in terms of this investment cycle Thank you to our sponsor!  Crypto.com: https://crypto.com Episode links:  Yan Liberman: https://twitter.com/YanLiberman Delphi Digital: https://www.delphidigital.io/ Delphi's State of Bitcoin 2020: https://www.delphidigital.io/halving Links from news recap: https://unchainedpodcast.com/where-is-the-eth-going/