Bitcoin Long-Term Holders Control Supply
Long-term bitcoin (BTC) holders, or addresses that have held coins for at least 155 days, now control a record three-fourths of the circulating quantity of the cryptocurrency.
The balance stored in these wallets has climbed by $1.83 billion to a record 14.52 million BTC this month, according to data recorded by blockchain analytics firm Glassnode, exceeding the previous milestone of 14.48 million BTC registered on May 21.
The new high implies that holders control 75% of the total circulating quantity of 19.437 million BTC.
The entire amount of coins actively available for trade in the market is referred to as the circulating supply.
“This suggests that HODLing is the preferred market dynamic amongst mature investors,” Glassnode wrote on Twitter.
(With inputs from Shikha Singh)
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