Bitcoin

<h2 id="quick-take">Quick Take</h2>
<ul>
<li>Given the infamous volatility of Bitcoin markets, coins aged 5yr or more are typically owned by HODLers who are very experienced in market cycles (or they are lost).</li>
<li>These coins are spent infrequently and represent just a small fraction of the daily transfer volume (if any). We refer to these as colloquially Ancient coins.</li>
<li>However, these coins may have also been acquired at much lower prices by mining or on secondary markets. When these coins are spent, they can represent very large USD-denominated values at modern prices.</li>
<li>Currently, these coins, as a supply %, are either at all-time highs or just below their all-time high.</li>
<li>In addition, ancient coins being spent is a normal occurrence in bear markets — especially last year during capitulation events. Examples can be seen with FTX and Luna collapse.</li>
</ul>
<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f7e3.png" alt="🟣" class="wp-smiley" style="height: 1em; max-height: 1em;" /> Coins aged 7yr+: 5.540M Bitcoin (All-Time High)
<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f535.png" alt="🔵" class="wp-smiley" style="height: 1em; max-height: 1em;" /> Coins aged 5y-10y: 2.766M Bitcoin (2% off its all-time high)
<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f7e2.png" alt="🟢" class="wp-smiley" style="height: 1em; max-height: 1em;" /> Coins aged 5y-7y: 1.642M Bitcoin (All-Time High)
<figure id="attachment_320340" aria-describedby="caption-attachment-320340" style="width: 1800px" class="wp-caption aligncenter"><img class="wp-image-320340 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/04/anicent.png" alt="Ancient Coins: (Source: Glassnode)" width="1800" height="1013" srcset="https://cryptoslate.com/wp-content/uploads/2023/04/anicent.png 1800w, https://cryptoslate.com/wp-content/uploads/2023/04/anicent-300x169.png 300w, https://cryptoslate.com/wp-content/uploads/2023/04/anicent-1024x576.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/04/anicent-768x432.png 768w, https://cryptoslate.com/wp-content/uploads/2023/04/anicent-1536x864.png 1536w" sizes="(max-width: 1800px) 100vw, 1800px" /><figcaption id="caption-attachment-320340" class="wp-caption-text">Ancient Coins: (Source: Glassnode)</figcaption></figure>
<figure id="attachment_320342" aria-describedby="caption-attachment-320342" style="width: 1167px" class="wp-caption aligncenter"><img class="wp-image-320342 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/04/vol.png" alt="Volume: (Source: Glassnode)" width="1167" height="633" srcset="https://cryptoslate.com/wp-content/uploads/2023/04/vol.png 1167w, https://cryptoslate.com/wp-content/uploads/2023/04/vol-300x163.png 300w, https://cryptoslate.com/wp-content/uploads/2023/04/vol-1024x555.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/04/vol-768x417.png 768w" sizes="(max-width: 1167px) 100vw, 1167px" /><figcaption id="caption-attachment-320342" class="wp-caption-text">Volume: (Source: Glassnode)</figcaption></figure>
The post <a rel="nofollow" href="https://cryptoslate.com/insights/ancient-bitcoin-supply-nears-all-time-highs-what-this-means-for-experienced-hodlers/">Ancient Bitcoin supply nears all-time highs: What this means for experienced HODLers</a> appeared first on <a rel="nofollow" href="https://cryptoslate.com">CryptoSlate</a>.

Ancient Bitcoin supply nears all-time highs: What this means for experienced HODLers

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