The Bitcoin bull market is changing investor habits – but the vast majority of the supply has stayed in the same wallet since 2018.
10.5 Million Bitcoins Dormant
Analysis of data from BitInfoCharts and social media transaction monitoring resource Whale Alerts produced some interesting reading this week.
Despite the Bitcoin price rise which began in April, seeing BTC/USD jump from $4,000 to over $8,300, HODLers are still accumulating – while keeping their coins static.
According to BitInfoCharts, around 10.5 million BTC has not left its wallet since May 5, 2018. The figure is just over double the 5.28 million BTC from January 5, 2017, before Bitcoin’s bull run to current all-time highs of $20,000.
Roughly 17.7 million bitcoin out of 21 million have already been mined.
The figure keeps rising – countering the concept that Bitcoin price rises have sparked increased trading activity throughout the community.
Nonetheless, as Bitcoinist reported, last week saw new daily trade volume records for Bitcoin, with two all-time…