Bitcoin

Read

Coin

Glassnode reports a record 2.9 million <a href="https://crypto.news/price/bitcoin/" data-type="link" data-id="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>, valued at $82.5 billion, untouched for ten years. It underscores long-term holders’ faith amidst market fluctuations. 
Glassnode data shows that the amount of Bitcoin that has not been moved for at least ten years just hit a new all-time high of nearly 2,900,000 BTC — or about $82.5 billion. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 📈 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> Amount of Supply Last Active &gt; 10y just reached an ATH of 2,895,599.067 BTC View metric:<a href="https://t.co/lBBwEqVviB" target="_blank" rel="noopener noreferrer nofollow">https://t.co/lBBwEqVviB</a> <a href="https://t.co/8gZJzStNEw" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/8gZJzStNEw</a>— glassnode alerts (@glassnodealerts) <a href="https://twitter.com/glassnodealerts/status/1692072624447201598?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 17, 2023</a> 
 </blockquote> 
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div> 
</figure> 
This means that the quantity of Bitcoin held for at least ten years keeps increasing and reaching new heights, suggesting that long-term investment is alive and kicking. 
Similarly, the percentage of Bitcoin’s supply that has not moved for at least five years reached a new record of 29.202% on Aug. 16. Nearly one-third of Bitcoin’s total supply has been kept in a single wallet for at least five years. 
The same is true for the percentage of Bitcoin’s supply that was inactive for at least three years, which just <a href="https://twitter.com/glassnodealerts/status/1691846088045584399" target="_blank" rel="noopener noreferrer nofollow">hit</a> an all-time high of 40.352% on Aug. 14. 
 You might also like: <a href="https://crypto.news/bitcoin-retests-sth-realized-price-amid-break-below-29k/" rel="noopener noreferrer nofollow"> Bitcoin retests STH realized price amid break below $29k </a> 
Another chart <a href="https://twitter.com/glassnodealerts/status/1692132986798375246" target="_blank" rel="noopener noreferrer nofollow">shows</a> that the amount of Bitcoin held for so long that it may actually be lost just reached a five-year high of 7,818,707.951 BTC — or $222.78 billion. This is calculated by subtracting the liveliness from one and multiplying the resulting number by Bitcoin’s circulating supply. 
Liveliness is the ratio of the sum of coin days destroyed and the sum of all coin days ever created — it is a number that increases when long-term holders liquidate their position and falls when they accumulate. Coin days destroyed is the number of coins multiplied by the number of days that have passed since they were last moved. 
 Read more: <a href="https://crypto.news/ledger-partners-with-paypal-to-enhance-bitcoin-crypto-purchase/" rel="noopener noreferrer nofollow"> Ledger partners with PayPal to enhance Bitcoin, crypto purchase </a>

Bitcoin supply last active over 10 years ago hits all-time high

crypto.news

Other articles published on Aug 17, 2023

What did cryptowhales buy in May

Increased Shorting Activity May Soon Lead To Liquidations: Report

Daily Analysis: Bears Dominate Session as BTC Drops Back to $28K

Binance is turning to the United Kingdom for regulatory oversight as the United States intensifie...

Hit us with your 3D madskillz

Quest for the Perfect Blockchain: Cardano Foundation Executive Debunks its Existence

Join our free newsletter for daily crypto updates!