Data shared by Glassnode, an on-chain analytics firm, drew attention to the stagnation in Bitcoin supply.
Glassnode recently referred to the stagnation in Bitcoin’s supply. The company published a report highlighting the “slump” in supply.
Recession in Bitcoin Supply Made ATH, According to Glassnode’s Data
Glassnode, a blockchain analytics firm, has recently released data showing that Bitcoin’s supply stagnation has reached an all-time high. According to the firm’s latest Tweet, about 40,083 percent of Bitcoin’s total supply has been inactive for more than three years, a record in the history of the leading cryptocurrency. This means that despite the usual price volatility of the Bitcoin market, a significant portion of Bitcoin holders do not move their assets.
The metric Glassnode publishes is often used to measure investor behavior and sentiment. High lethargy typically indicates a hodling behavior in which Bitcoin holders or “hodlers” keep their holdings safely in view of the long-term price rise despite market fluctuations.
Another impressive development in the Bitcoin community is the rise of “wholecoiners,” or Bitcoin addresses holding at least one full Bitcoin (BTC). According to Rafael Schultze-Kraft, co-founder of Glassnode, the number of such addresses has now reached 1 million.
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