general

Long-term holders of bitcoin begin to show signs of bitcoin spending

Long-term holders of bitcoin begin to show signs of bitcoin spending

The content site is one of the sites that provide the service of answering general questions and solving puzzles and crossword puzzles

Where the content site is primarily interested in answering your questions in all areas, including solving puzzles and crossword puzzles

Answer Long-term holders of bitcoin begin to show signs of bitcoin spending

After the price of Bitcoin reached an all-time high of nearly $67,000 on October 20, Bitcoin experienced massive fluctuations across its network.

The spending behavior of long-term bitcoin holders has changed significantly over the past two weeks.

Long-term bitcoin holders now own more than 13.34 million bitcoins, which is about 680,000 more bitcoins compared to the same period last year.

After the March 2021 decline, bitcoin holders increased the amount of bitcoin they held.

In the past seven months, long-term contract holders have accumulated more than 2.42 million bitcoins.

However, long-term supply has decreased slightly in the past two weeks, mainly due to a bullish rally in the world’s most popular cryptocurrency asset.

Read:Bitcoin P2P trading volume reaches record levels in several countries

Bitcoin holders spent more than 39,500 BTC during the mentioned period.

The supply of long-term holders of bitcoin has decreased by about 39.5 thousand bitcoins over the past two weeks.

However, when we look at this in context, it follows a period of massive build-up and HODLing, with the held supply increasing by 2.42 million BTC since its March lows.

The current supply is 680,000 BTC higher than it was at this time last year, and even after spending the week, it is starting to return to the upside, which was highlighted and confirmed by the blockchain trading analysis platform, glass In its latest weekly report.

Modest spending of bitcoin:

Recent data from Glassnode indicates that long-term held bitcoin spending has remained modest in the past two weeks.

The long-term holders of Bitcoin still hold a significant amount of total circulating supply.

The activity of bitcoin addresses including whale transactions and the number of active bitcoin wallets jumped sharply over the past week.

Currently more than 90% of the Bitcoin supply is in profit.

Read:Find out which companies within the S&P 500 accept bitcoin as payment!

Read also:

“Bakkt” shares rise after announcing the partnership with “MasterCard” to provide crypto services

Learn about…the most important reasons that contribute to the volatility of the cryptocurrency market


And you can ask questions on the content site through the word “Ask a question” at the top of the site, where we answer your questions in a short time

Previous post
The Dubai Financial Services Authority announces a framework governing investment in digital tokens
Next post
“Bakkt” shares rise after announcing the partnership with “MasterCard” to provide crypto services