Glassnode Acquires Crypto Portfolio Tracking Tax Platform Accointing.Com

Leading crypto market intelligence provider Glassnode has acquired crypto portfolio tracking tax platform Accointing.com to allow users to track their portfolios in one place.

Glassnode is an on-chain and market data intelligence provider that provides traders and investors with a market intelligence suite and advanced metrics across on-chain as well as crypto-financial data, supplied through actionable charts.

According to the announcement, in the coming months, Glassnode will integrate with Accointing.com, combining both into a single platform.

Once the integration is done, Glassnode users can take advantage of Accointing.com’s services, including viewing their portfolio assets across wallets and exchanges. 

Users will also be able to make use of Accointing.com’s automated crypto tax compliance and reporting features. Additionally, until the integration is settled, users will only be able to access both platforms using the same login. 

Speaking of Glassnode, the data provider has so far been providing accurate analysis of the overall crypto market. In July, the data provider showed that the top cryptocurrency in the market has persisted in two huge capitulation events so far in 2022.

The market insight provider explained, “2022 has seen Bitcoin markets whether two enormous capitulation events, both with the largest BTC transfer volume in a loss since 2011. When LUNA collapsed, the total transfer volume in the loss was 538k BTC. This was followed by 480k BTC as the market traded below the 2017 ATH.”

In addition, Glassnode also explained in the same month that for a bear market to reach an ultimate floor, the share of coins held at a loss should transfer primarily to those who are the least sensitive to price and with the highest conviction.

The data provider added that one of the significant impacts of a lengthy bear market entails the redistribution of wealth amongst the remaining stakeholders.

Image source: Shutterstock