Bitcoin (BTC) on-chain data has recently revealed an important milestone in the history of cryptocurrencies. Glassnode Data shows that the amount of bitcoin supply last active over 10 years ago has reached an all-time high of 2,673,268 BTC.
In addition, the percentage of the offer that has been inactive for at least five years has also reached an all-time high, currently at 28.468%.
This information is crucial for a number of reasons, as it highlights the long-term holding mindset among bitcoin investors and provides insight into the overall health of the bitcoin ecosystem.
The data indicates that many bitcoin holders are adopting a long-term investment strategy. This approach, often called “HODLing” within the cryptocurrency community, involves holding the digital asset despite market fluctuations and short-term volatility. By doing so, these investors express their confidence in the value and long-term potential of bitcoin as an investment and store of value.
The increasing latency of the bitcoin supply can be seen as a positive sign for the market. Dormant coins reflect a reduced probability of sell-offs, which may contribute to overall market stability. This trend may indicate that many investors believe in bitcoin’s long-term prospects and have chosen to hold their assets in anticipation of future growth.
Record levels of latency within the bitcoin ecosystem suggest a general maturation of the market. As more investors adopt a long-term holding strategy, this may lead to a more stable environment, attracting institutional investors seeking exposure to digital assets.
In addition, the data can provide security for current and potential investors. It shows that a large part of the bitcoin supply is in the hands of those who have faith in its future performance. This confidence in the market may encourage new investors to enter the space and further cement bitcoin’s status as a legitimate investment and store of value.
The all-time high in the dormant supply of bitcoins is a testament to investor long-term confidence in the cryptocurrency. As the market continues to mature, the increasing latency of bitcoin’s supply could help create a more stable environment for current and potential investors. In the ever-evolving landscape of digital assets, these on-chain data points offer valuable insight into the health and future prospects of the bitcoin ecosystem.
The development follows a recent report that more than 40,141 bitcoins were moved in a single transaction on March 16, 2023, showing once again how the introduction of BTC improved big deals.
