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Every third Bitcoin has stayed in the holders’ wallets since the last bull run. - 2
Bitcoin (BTC) trades at 28,338 USD with a 1.63% gain in a day.
The popularity of the flagship cryptocurrency Bitcoin (BTC), is nothing short of extraordinary. Only someone living under a rock might not have heard about the first leading crypto asset. Recently it was reported that over half of the currency supply of Bitcoin has not been moved for quite a long time now. This infers that most BTC holders had not moved their stash.
Glassnode data shows the inactive Bitcoin supply for more than the last two years has hit an all-time high of 53%. Until last year, the percentage was around 45% which increased to the existing level from January till date.
Bitcoin was trading at a much higher price two years back than its current price of around 28,300 USD at the time of writing. The crypto asset not sold for past years is currently trading below the price at its purchase. It achieved its all-time high in November 2021 by hitting more than 69,000 USD. The current price has been down by around 60% since then.
Non-Zero BTC Wallet Crosses 45.5Mn, Hits ATH
According the Glassnode’s Tweet made on Friday, April 7, the overall non-zero Bitcoin addresses, the wallets with at least some amount of BTC, reached an all-time high of 45.5 million cryptocurrency wallets. It further noted the instance showcases the on-chain activity is on the rise.
The recent surge in price action has propelled the number of Non-Zero Addresses to an ATH of ~45.5M, with only 96 / 5206 data points recording a larger 14d change in absolute terms.
This suggests the degree of on-chain activity is currently improving.
— glassnode (@glassnode) April 7, 2023
The data suggest that slightly under 15% of the total Bitcoin (BTC) currency stayed dormant for about a decade.
Popular industry influencer Anthony Pompliano, in his Monday, April 10, Twitter thread, stated that the number of circulating Bitcoin (BTC) which did not make any movements in the last five years is around 29%.
According to Pompliano, the number of cryptocurrencies staying inactive for half a decade equates to more than 150 billion USD. He said, “there is more than 2,700,000 bitcoin lost, forgotten, or in the hands of the most disciplined investors in the world.”
In response to why 53% of BTC holders are not selling their crypto asset, the influencer said, “Some people fall into this category but doubtful that majority of the 53% are waiting to sell at some breakeven price.”
Source: https://www.thecoinrepublic.com/2023/04/10/over-half-of-bitcoin-supply-in-last-2-yrs-stays-unmoved-reports/