Seasoned Bitcoin (BTC) hodlers have hardly spent any coins despite $69,000 all-time highs this year, data shows.
According to the Coin Days Destroyed (CDD) metric from on-chain analytics firm Glassnode, the proportion of coins being spent by old hands remains near record lows.
Strong hands knuckle down throughout 2021
In the latest sign of the conviction of those who invest in and hold Bitcoin over multiple years, CDD remains extremely calm.
The indicator refers to how long each BTC has been dormant each time it moves. This provides an alternative to simple volume measurements to determine market trends. Older coins are thus more “important” than younger ones with a history of active movement.
“Despite a rise over the last few months, the current value is still around historic lows,” Twitter account UTXO Management summarized alongside an imprint of the chart.