The proportion of BTC circulating supply that has not been active on the chain for at least one year reached 70.35%, a record high
According to blockchain analysis company Glassnode, the proportion of Bitcoin circulation supply that has not been active on-chain for at least a year has reached a record high of 70.35%, surpassing the previous peak of 69.35% in July.
Reflexivity Research suggests that the new historical high reflects "strong conviction among Bitcoin holders in the cryptocurrency space despite widespread setbacks and macroeconomic headwinds after Bitcoin's price reached a new high in 2021."
The proportion of supply that has not moved on-chain in 2, 3, and 5 years is also at historical highs, indicating that even with Bitcoin's price reaching $37,000 this year, long-term investors are not willing to sell. (CoinDesk)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Samsung challenges $520M India tax demand, joins Volkswagen in rejecting penalties
Share link:In this post: Samsung is contesting a $520 million tax demand from Indian authorities for allegedly misclassifying imports of networking equipment. The company has filed a 281-page challenge at the Customs Excise and Service Tax Appellate Tribunal in Mumbai, claiming that similar practices by Reliance Jio went unchallenged. The case follows a similar dispute involving Volkswagen, which is also contesting a $1.4 billion tax demand for misclassified imports.
Ethereum Price Prediction: Will ETH Break Out From the $1,800 Zone?
Dogecoin Price Prediction: Is DOGE Getting Ready for a Breakout Above $0.20?
Ethereum Price Outperforms BTC as Blockstream CEO, Adam Back Reacts to Vitalik’s Latest Proposal
Trending news
MoreCrypto prices
More
