Long-Term Holders Now Control More BTC
The most ardent supporters of Bitcoin, referred to as long-term holders in the industry, now hold more Bitcoin (BTC) than ever before, according to new information from blockchain analytics company Glassnode.
The data shows that the so-called long-term holder supply currently equals 14.599 million BTC, or 75% of the total supply of Bitcoins in circulation.
The highest reading for this metric has ever been 14.5 million BTC held by long-term holders, according to Glassnode.
The value has increased by 43,949 BTC, or roughly $1.3 billion, just in the last seven days.
The lead on-chain analyst for Glassnode, who goes by the alias Checkmate, posted a graph of the record high on social media on Monday:
Bitcoin’s volatility has plummeted to multi-year lows even though there are now more long-term holders of BTC than ever before.
The most recent issue of Glassnode’s The Week Onchain Newsletter shows that Bitcoin’s 1-year volatility is at its lowest level since December 2016, and that the 30-day price range is contained within a small band that is only 9.8% wide.
(With inputs from Shikha Singh)
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