In an unprecedented revelation, it has surfaced that more than 80% of the entire Bitcoin supply has remained inactive for the past six months, indicating a significant shift toward a long-term investment approach among Bitcoin holders.
JUST IN: Over 80% of all #Bitcoin has not moved in the last 6 months, marking a new ALL-TIME HIGH 💥 pic.twitter.com/EcfZbg3yxY
— Bitcoin Magazine (@BitcoinMagazine) December 23, 2023
The number of wallets boasting a balance greater than zero on the Bitcoin network has now exceeded 916.75 million, signaling a noteworthy 1.8% increase within just a span of 10 days. This surge in wallet engagement extends beyond Bitcoin alone; other prominent cryptocurrencies, including stablecoins such as Tether (USDT) and USD Coin (USDC), are also experiencing accelerated growth in their user bases.
📈 #Bitcoin’s amount of wallets holding >0 coins is up to 916.75M, which is a +1.8% increase in just a 10 day span. Other top cap assets, including #stablecoins like #Tether and #USDCoin, are also seeing an increased rate of growth as a result of this
(Cont) 👇 pic.twitter.com/gmi52Jijsf
— Santiment (@santimentfeed) December 22, 2023
The cryptocurrency domain has witnessed an overall surge in the creation of new addresses, particularly following a sudden uptick observed over the past two months. However, it’s essential to note that Cardano (ADA), among the top-ranking digital assets, stands as the sole exception, not displaying an extreme pace of address growth.
The rapid expansion in the number of new addresses across leading cryptocurrencies suggests a Fear of Missing Out (FOMO) sentiment. Investors are displaying a keen interest in acquiring and holding various digital assets, with Bitcoin and Dogecoin experiencing a significant uptick in this trend. This phenomenon underscores the speculative enthusiasm prevalent in the cryptocurrency domain.
As the crypto landscape continually evolves, the sustained growth in new addresses underscores the escalating adoption and interest in digital assets. The prolonged dormancy of a substantial portion of Bitcoin reflects the maturation of the market, as a considerable segment of investors embraces a ‘hodl’ strategy amidst the dynamic nature of the crypto ecosystem.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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