May 28, 2023

Nearly 11 million bitcoins have not moved from their addresses over the past year

Over the past 12-plus months, about 10.7 million bitcoins motionlessly lay on their addresses, which is the highest rate since 2017. It is reported by CoinDesk with reference to the data of the analytical company Digital Assets Data.

This also means that of the 18.14 million bitcoins released to date, almost 60% were in sleep mode, while the remaining 40% participated in market movements.

Nearly 11 million bitcoins have not moved from their addresses over the past year

“So many fixed bitcoins is an obvious sign of a growing Hodler community.”- said the technical director of Komodo Platform Kadan Stadelman.

According to him, the possible reason is thatMany investors expect that after the May Halving, the price of Bitcoin will rise substantially. At the same time, Stadelman does not exclude the possibility that if these expectations are not met, some investors will want to sell their coins.

Digital Assets Data Researcher KevinKaltenbacher also does not rule out that such a large number of fixed bitcoins is due to the fact that investors could buy them during a bull rally at the end of 2017, when the first cryptocurrency reached a historic high of around $ 20,000. Now they are waiting for prices to return to the previous ones. levels and are in no hurry to part with their bitcoins.

Recall last month the head of Digital AssetsData Ryan Alfred said that despite a significant reduction in prices compared to December 2017, the most capitalized cryptocurrencies are more attractive to investors than traditional assets like Nasdaq and S&P indices, oil or gold.