Bitcoin hodlers will not give in

Information supplied by on-chain analytics agency Glassnode exhibits that the quantity of bitcoin (BTC) in circulation that has not moved in over the past 10 years has reached an all-time excessive of two,612,163.979 BTC.

Glassnode information additionally exhibits that the proportion of the full provide of bitcoin that has not moved in at the least 5 years has additionally reached an all-time excessive of 27.678%, and the quantity that has not moved in over 2 years has additionally reached an all-time excessive of 48.551%.

This information means that a good portion of the full provide of bitcoin is being held for long-term funding.

The truth that a big proportion of the availability has not moved in such an extended interval signifies that many traders are assured within the long-term potential of the cryptocurrency. Nonetheless, it’s also exhausting to estimate how a lot of this bitcoin held on addresses the keys to which have been misplaced when the cryptocurrency was in its infancy.

Moreover, information from as we speak exhibits {that a} internet of $40.eight million price of bitcoin has been withdrawn from centralized crypto exchanges over the past 24 hours.

This implies that crypto traders’ belief in centralized service suppliers continues to be low, and they’re transferring their funds to different types of storage, akin to a {hardware} pockets, the place they’re secure from hacks, fraud, and bankruptcies.

The findings comply with latest information indicating that regardless of a tough 2022, many bitcoin holders are taking their funds off centralized exchanges and never promoting them. In our latest evaluation we additionally revealed the diploma of decentralization and centralization in Bitcoin’s node infrastructure.

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