Bitcoin BTC/USD According to the on-chain analytics provider, holders are sitting back, with more than half of the supply remaining dormant over the past two years glass node.
What happened: In fact, the percentage of supply that was last active more than two years ago has hit an all-time high of 53%, suggesting that many long-term investors are now reluctant to sell their bitcoin.
Pomp Investments Anthony Pompliano tweeted that about 29% of all bitcoin in circulation hasn’t moved in the last five years. He said that this amounts to a market cap of over $150 billion, which has been flat for half a decade or more.
See more: Top Indian Apps Giving Bitcoin, NFT Rewards
Glassnode data further showed that nearly 15% of all Bitcoin in circulation has actually remained dormant for a decade. This amounts to “more than 2,700,000 Bitcoin lost, forgotten or in the hands of the world’s most disciplined investors.”
Price promotion: At the time of writing, BTC is trading at $28,295.53, up 1.47% over the past 24 hours. according to Benzinga Pro.
Continue reading: Bitcoin, Ethereum and Dogecoin Trading Mixed As Shanghai Upgrade Approaches: Analyst Says Apex Crypto Could Break Out If It Happens
[ad_2]
Source story
