DeFi News Daily Official TheBitTimes.com

Glassnode reports a record 2.9 million BTC, valued at $82.5 billion, untouched for ten years . It underscores long-term holders’ faith amidst market fluctuations. Glassnode data shows that the amount of Bitcoin that has not been moved for at least ten years just hit a new all-time high of nearly 2,900,000 BTC — or about $82.5 billion. #Bitcoin $BTC Amount of Supply Last Active > 10y just reached an ATH of 2,895,599.067 BTC View metric:https://t.co/lBBwEqVviB pic.twitter.com/8gZJzStNEw — glassnode alerts (@glassnodealerts) August 17, 2023 This means that the quantity of Bitcoin held for at least ten years keeps increasing and reaching new heights, suggesting that long-term investment is alive and kicking. Similarly, the percentage of Bitcoin’s supply that has not moved for at least five years reached a new record of 29.202% on Aug. 16. Nearly one-third of Bitcoin’s total supply has been kept in a single wallet for at least five years . The same is ...

Bitcoin lacks both active address growth and significant on-chain volume in a divergence from previous BTC price bull markets. Bitcoin (BTC) still lacks the on-chain volume and active address increases which characterize bull markets, research warns. In a frank appraisal of the 2023 BTC price rebound, on-chain analytics platform CryptoQuant warned that Bitcoin may be weaker than it seems. Active addresses not copying bull market paradigm As on-chain metrics flip green and some even flash bull signals not seen in years, a healthy dose of suspicion remains among many analysts. CryptoQuant contributor Yonsei_dent is among them, writing in one of the platform’s Quicktake blog posts this week that 2023 does not chime with previous bull markets. The problem, he explains, lies in active addresses, which are not increasing in number despite BTC/USD gaining almost 50% year-to-date. “Active Addresses is a metric that includes all addresses sending and receiving BTC, providing a look at how a...