According to recent data from Glassnode, a well-known market intelligence firm, the percentage of unmoved Bitcoins (BTC) reached an all-time high of 53% in the last two years. This figure implies that at least one of every two BTC in circulation has not been traded since 2021.
APompliano, a famous crypto investor on Twitter, shared this data with the crypto community early today. He noted that in a broader scope of view, almost 29% of all Bitcoins in circulation, representing over $150 billion in market cap, have stayed the same for half a decade.
Furthermore, Glassnode data suggests that under 15% of all circulating Bitcoins have not been sold or exchanged in ten years. Additionally, Apompliano deduced that “over 2.7 million BTC, worth over $76 billion, are either lost, forgotten, or held by the most disciplined investors in the world.”
While these statistics demonstrate the long-term holding behavior of most Bitcoin investors, some crypto enthusiasts believe the investors are “underwater and waiting for the right time to sell.” A few others expressed that the coin is not moving hands because there is simply no demand for it in this current market condition.
However, according to data from the market tracking platform, CoinMarketCap, crypto traders bought and sold over $12 billion worth of Bitcoin in the last 24 hours, putting its price at $28,255. And over the previous four weeks, Bitcoin gained $8,500 after the crash of some of the most prominent banks in the United States.
The post Half the Bitcoin in Circulation Hasn’t Moved in 2 Years: Glassnode appeared first on Coin Edition.
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Source: Cryptocurrency - investing.com
