Bitcoin Supply Dormancy Hits All-Time High

Bitcoin Supply Dormancy Hits All-Time High

by Virtusenews
15. May 2023
Bitcoin Supply Dormancy Hits All-Time High

Bitcoin’s supply dormancy has reached an all-time high, according to the latest data from on-chain analytics firm Glassnode.

The firm’s recent tweet reveals that approximately 40.083% of Bitcoin’s total supply has been inactive for over three years, a new record in the history of the leading cryptocurrency.

This implies that a significant portion of Bitcoin holders have not moved their assets despite the extreme price volatility that characterizes the Bitcoin market.

Supply dormancy refers to the measure of how long Bitcoin has remained in a wallet without being moved or traded. The longer the duration, the higher the supply dormancy.

Related Shiba Inu’s BONE Token Wins Listing on Ambitious US Crypto Exchange This metric is often used to gauge investor behavior and sentiment.

High dormancy typically indicates a hodling behavior, where Bitcoin holders, or “hodlers,” are confidently holding their assets despite market fluctuations, anticipating a long-term price increase.

Rise of wholecoiners: 1 million addresses now own whole Bitcoin.

Another fascinating development in the Bitcoin community is the increasing number of “wholecoiners” — Bitcoin addresses that hold at least one whole Bitcoin (BTC).

As per a tweet from Rafael Schultze-Kraft, the co-founder of Glassnode, the number of such addresses has now reached a milestone of 1 million. This trend suggests a growing number of individuals or entities accumulating Bitcoin, notwithstanding its high price point.

Read more

Share this article:

divider graphic

Related Articles

Subscribe to Virtuse News
graphical divider
arrow-up icon