Bitcoin

<h2 id="quick-take">Quick Take</h2> 
<p>The Bitcoin ecosystem has recently witnessed a noteworthy trend as a substantial quantity of coins, dormant for years, have sprung back into circulation. Data from Glassnode reveals a significant increase in the transfer volume of previously dormant coins for periods of over 1, 2, 3, and 5 years. Approximately 26,000 Bitcoins that were inactive for more than a year have registered movement, marking the second-highest revival this year.</p> 
<figure id="attachment_378612" aria-describedby="caption-attachment-378612" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-378612 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/12/rs.png" alt="Revived Supply 1+ : (Source: Glassnode)" width="1800" height="1013" srcset="https://cryptoslate.com/wp-content/uploads/2023/12/rs.png 1800w, https://cryptoslate.com/wp-content/uploads/2023/12/rs-300x169.png 300w, https://cryptoslate.com/wp-content/uploads/2023/12/rs-1024x576.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/12/rs-768x432.png 768w, https://cryptoslate.com/wp-content/uploads/2023/12/rs-1536x864.png 1536w" sizes="(max-width: 1800px) 100vw, 1800px">
 <figcaption id="caption-attachment-378612" class="wp-caption-text">
  Revived Supply 1+ : (Source: Glassnode)
 </figcaption>
</figure> 
<p>In the 2+ years cohort, a yearly high of around 25,000 Bitcoins returned to circulation. The 3+ and 5+ year cohorts weren’t left behind, revealing an elevated revival of approximately 4,500 and 2,600 Bitcoins, respectively. This emergence coincided with the <a href="https://cryptoslate.com/insights/bitcoin-rally-triggers-over-36-million-in-shorts-liquidations/">year-to-date high</a> price of Bitcoin, indicating a correlation between price peaks and the resurrection of dormant coins.</p> 
<figure id="attachment_378615" aria-describedby="caption-attachment-378615" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-378615 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/12/2.png" alt="Revived Supply 2+ years : (Source: Glassnode)" width="1800" height="1013" srcset="https://cryptoslate.com/wp-content/uploads/2023/12/2.png 1800w, https://cryptoslate.com/wp-content/uploads/2023/12/2-300x169.png 300w, https://cryptoslate.com/wp-content/uploads/2023/12/2-1024x576.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/12/2-768x432.png 768w, https://cryptoslate.com/wp-content/uploads/2023/12/2-1536x864.png 1536w" sizes="(max-width: 1800px) 100vw, 1800px">
 <figcaption id="caption-attachment-378615" class="wp-caption-text">
  Revived Supply 2+years : (Source: Glassnode)
 </figcaption>
</figure> 
<p>The post <a href="https://cryptoslate.com/insights/dormant-bitcoin-re-enters-circulation-as-sleeping-giants-stir/">Dormant Bitcoin re-enters circulation as sleeping giants stir</a> appeared first on <a href="https://cryptoslate.com">CryptoSlate</a>.</p>

Dormant Bitcoin re-enters circulation as sleeping giants stir

Table of Contents

CryptoSlate

Other articles published on Dec 1, 2023

Esports leader Team Liquid joins Illuvium for strategic blockchain game beta test

Ethereum ATH: Exploring The Possibility Of Ether’s New Peaks In 2024

Solana Community Rejoices, What Could Be the Reason?

Cardano Eyes 67.5% Upswing in December, If ADA Price Follows History

Revolution in Crypto: This Newcomer’s Presale Signals a Shift for Established Coin Investors

Soaring Trading Volumes at HashKey Exchange Sparks Market Scrutiny

Join our free newsletter for daily crypto updates!