Bitcoin Dormant Supply Increases as ‘Hodlers’ Refuse to Sell – BitcoinWorld

On May 22, the on-chain analytics provider Glassnode reported that significant portions of the Bitcoin supply remain dormant in individual investors’ wallets. It was also stated that several important age groups are currently at all-time highs.

As the hodl narrative becomes more prevalent, the quantity of Bitcoin held for over a year keeps climbing to new highs. “The remarkable level of HODLing that has been seen across the supply continues, with such high coin inactivity supporting the extreme lows of on-chain volume throughput.”

The chart that follows demonstrates an increase in hodling across all bands, with the most dramatic increase occurring in the band that was active two years ago. These coins were accumulated at the beginning of 2021 at the bull market’s start.

Additionally, the supply of long-term holders, defined as BTC held for more than 155 days, has reached a new all-time high of 14.46 million BTC. This represents a new record for the supply of long-term holders. “This reflects coins acquired immediately after the FTX failure maturing into LTH status,” noted Glassnode. “This reflects coins acquired immediately after the failure of the FTX.”

In addition, the Bitcoin liveliness metric, which contrasts hoarding cryptocurrency with spending it, has reached its lowest level since December 2020. This further proves that holding onto one’s holdings is currently the most common form of market activity.

“Continual declines in Liveliness reaffirm that HODLing is unquestionably the primary market dynamic across the vast majority of supply at present.”

Unchained published a statement on May 23 confirming the consensus that Bitcoin is not being moved. It was discovered that a staggering 68.13% of Bitcoin had not changed hands in more than a year.