Record 31% of Bitcoin supply dormant for over five years

Share This Post

Quick Take

Historical data indicates a growing trend among Bitcoin investors towards long-term holding. Since Bitcoin’s inception on Jan. 3, 2009, coins have continuously circulated through mining, purchasing, and selling processes, with some being lost. However, an analysis of the supply last active reveals a significant percentage of Bitcoin has not moved on-chain for extended periods.

Specifically, 70.3% of the supply was last active more than a year ago, 57.3% more than two years ago, 41.5% over three years, and a record 31.3% last active over five years ago. This suggests that almost a third of the current Bitcoin supply is retained by investors who have held onto their assets for over half a decade.

Interestingly, the timing coincides with the bottom of the 2018 bear market, hinting at the emergence of steadfast investors, colloquially known as “diamond hands,” who hold onto their assets regardless of market fluctuations.

In light of a 160% year-to-date return on Bitcoin, these figures underline a remarkable trend: despite substantial profits, most investors choose to hold onto their Bitcoin, indicating a strong belief in its long-term value.

Supply Last Active: (Source: Glassnode)
Supply Last Active: (Source: Glassnode)

The post Record 31% of Bitcoin supply dormant for over five years appeared first on CryptoSlate.

Read Entire Article
spot_img

Related Posts

Ethereum Price Prediction: ETH Soars 18% In February On Optimism For Ethereum Dencun Upgrade And ETH ETFs, But Analysts Say This ICO Might Be...

The Ethereum price pumped more than 18% so far this month to trade at $2,92670 as of 1:15 am EST Analysts believe the ETH price

6 Best Cheap Crypto to Buy Now Under 1 Dollar February 19

The crypto market is approaching the Altcoin season As such, investors are actively seeking tokens with the potential to capitalize on the impending upward trend

PepeFork Price Prediction: PORK Pumps Again For 45% Surge In A Week, But Experts Say This Other Meme Coin Might Be The Next Crypto...

The PepeFork price rose 6% in the last 24 hours to trade at $00000004700 as of 04:57 am EST on trading volume that surged 62%

Altcoins Sink Into “Danger Zone”, Is A Correction Incoming?

Data of an on-chain indicator suggests the majority of the altcoins have now dropped into the historical “danger zone,” a sign that could be bearish Altcoins May Be Overbought Currently

XRP Refuses To Back Down As Crypto Analyst Identifies When Price Will Rally To $2

Several analysts continue to make bullish predictions for the XRP token despite its lacklustre price action This time, crypto analyst Dark Defender has identified emerging patterns that suggest that

AI Crypto Assets Skyrocket With Over $10 Billion Added to the Sector in 17 Days

In the last 17 days, the value of artificial intelligence (AI) cryptocurrency assets has soared, with a significant addition of $1021 billion to their overall market value This surge aligns with the
- Advertisement -spot_img