Bitcoin circulating supply held by long-term holders is at an all-time high, according to Glassnode data.
The circulating supply of bitcoin is historically tight, with coins held by long-term investors at an all-time high, according to Glassnode data.
"The bitcoin supply is quite tight with several measures of supply such as illiquid supply, coins HODLed, and long-term holder supply at historical highs," Glassnode analysts said in a note shared with The Block.In a Wednesday blog post entitled "The Tightening of Supply," Glassnode data showed the proportion of circulating supply of bitcoin held for longer than one year is hovering around all-time-high levels.
"The illiquid supply metric, which measures the amount of supply held in wallets with minimal history of spending is also at an all-time high of 15.4 million bitcoin," Glassnode analysts added.The data showed that the monthly rate of change for illiquid supply is within a multi-year period of net gains, currently increasing at a rate of over 71,000 bitcoin per month.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crypto data platform Glassnode sells Bitcoin tax software to BlockpitCrypto intelligence firm Glassnode has sold its crypto tax platform Accointing to the European compliance firm Blockpit in an undisclosed “multi-million dollar deal.”
Read more »
Crypto Tax Platform Blockpit Buys Rival Accointing From GlassnodeJamie Crawley is a CoinDesk news reporter based in London.
Read more »
Glassnode Passes the Baton: Accointing Handed Over to Blockpit in ‘Multi-Million Dollar’ DealCrypto Blog
Read more »
Bitcoin (BTC) Will Be 'Much Higher By End of Year' Predicts AnalystBitcoin shows bullish tendencies, and analyst believes we will see continuation of this trend
Read more »
Major Bitcoin Warning Made by Samson Mow to Community: DetailsCSO of Blockstream issued important message to Bitcoin community
Read more »
Inordinately high — Bitcoin ordinals send BTC transaction fees to new 5-month peakBTC transaction fees skyrocket again thanks to ordinals inflating the Bitcoin mempool.
Read more »