Even 64% Of Bitcoin’s Supply Has Not Moved Since 2018

HODLers are in a state of paranoia as the latest Bitcoin news updates show – mostly because of the fact that even 64% of the Bitcoin (BTC) supply has not moved since last year. The truth is, over 60% of the circulation of the most dominant coin has not left its wallet in more than one year, highlighting a lack of demand among investors.

This was the general conclusion of many analysts including Rhythm, who first shared the statistics about the Bitcoin network activity on December 2. As he showed in the stats, of the roughly 19 million Bitcoins which have been mined so far, even 65% of 11.58 million BTC has stayed in the same wallet since 2018.

Many know that this figure is very shocking mostly because during this time, the BTC/USD pair expanded from $3,100 (in last December 2018) to the 2019 highs of $13,800 just six months later (in June 2019).

The markets reversed downward as a result too, shaving around 52% of the highs and reaching local lows of $6,500 on November 25. As Rhythm summarized, “hodlers of last resort are insane.”

The data that even 64% of the total BTC has not moved since 2018 is viral in the latest cryptocurrencies news. According to the stats, the amount of dormant BTC has sharply increased in recent years, too – the trend remained intact during both bull markets and bear markets – signalling a trend in which investors want to save rather than spend their crypto.

This kind of trait fits Bitcoin’s characteristics in its mission to succeed as hard money – it wants to be a currency with a fixed supply and emission schedule which no central authority can manipulate. So, the fact that even 64% has not been moved is good and cryptocurrency proponents are seeing this as a good trend which aligns with the crypto’s idea of being safe as storage.

Bitcoiners, as the stats show, are “saving for the future” and understanding that it is more profitable to do so rather than purchase as much as possible and as soon as possible. At press time, the most dominant coin is at $7,254 with a $131 million market cap and a dominance of 66.6%. It is in a red momentum on the day as the market lost $2 billion in 24 hours.