Bitcoin Holders Have Now Stashed Away 15% of Circulating Supply – CoinDesk

Accumulation addresses are those that have at least two incoming non-dust transfers (tiny amounts of bitcoin) and have never spent funds. The metric excludes addresses active more than seven years ago to adjust for lost coins and those belonging to miners and exchanges.

The balance locked in accumulation addresses is up 22% year-on-year and has increased by 80,000 BTC in the past week alone.

Other on-chain metrics also back the bullish picture. For instance, the number of coins held in exchange addresses continues to slide, taking more sell-side liquidity off the market. The balance held on exchanges fell to a 2.5-year low of 2,349,040 BTC on Monday.

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