Bitcoin News

Billions in Bitcoin Left Untouched: Analytics Firm Glassnode Declares Over $124 Billion in BTC as Antiquities!

According to Glassnode, a major blockchain analytics startup, about $125 billion in Bitcoin (BTC) is now deemed “ancient,” or undisturbed for at least seven years. According to Glassnode, just 8.3% of all coins that become ancient have ever been spent throughout Bitcoin’s history.

According to Glassnode, the BTC that remain archaic might be inactive or altogether gone.

“Since Bitcoin’s inception, only 4.25 million coins have attained the status of Ancient Supply (7+ Years).” Surprisingly, just 356,000 ancient coins have been used, accounting for 8.3% of the entire ancient supply, whereas 3.9 million (91.7%) coins are still inactive or lost.”

The analytics company also examines its supply-per-whale statistic, which examines the average amount of BTC owned by whales. It discovers that, although the average BTC held by whales has been pretty stable for many months, each whale owns a lower and less fraction of the Bitcoin market value on average.

“Following the recent price surge, the Bitcoin supply per whale has reached an equilibrium, remaining stable at a value of 5,350 BTC/whale.” Despite the stability of supply held, the whale cohort’s (46%) share of the market cap is declining.”

Glassnode also tracks its supply in a profit/loss statistic, which keeps track of how many coins are losing money and how many are making money. According to the business, the indicator shows that market players’ holdings are becoming more positive over time, suggesting that a sell-off event is possible.

“With the strong start to 2023, the aggregate market confidently transitioned from an unrealized loss regime to one of unrealized profit, as evidenced by the sharp divergence between supply held in profit vs. loss.” As this occurs, the incentive to profit grows.”


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