BTC Supply Reaches Record High
According to the report, according to the data of Glssnode, the percentage of supply of BTC that has been active for more than one year has just reached a reco…
According to the report, according to the data of Glssnode, the percentage of supply of BTC that has been active for more than one year has just reached a record high of 66.974%.
The percentage of BTC’s last active supply for more than one year has reached a record high
Interpretation of the news:
The recent report released by Glassnode, a leading blockchain analytics firm, shows that the percentage of BTC supply that has been active for over a year has reached an all-time high of 66.974%. This indicates a positive trend for BTC holders and investors.
BTC supply refers to the number of BTC in circulation in the market. It is important because it affects the value of the cryptocurrency. When demand for BTC is high and the supply is limited, the price of BTC increases, and vice versa.
The percentage of supply that has been active for over a year means the amount of BTC that has not been moved or spent in the past 12 months or more. This data indicates that a significant number of BTC holders are confident in the long-term value and potential of BTC, and are holding on to their assets.
This trend is a positive sign for the BTC market because it shows that BTC is becoming more of a long-term investment rather than a short-term one. This is a shift away from the speculative nature of the cryptocurrency market that has been seen in the past.
Investors and traders may interpret this data as an indication of a healthy market as it signals a decreasing amount of BTC being sold or traded. This can result in less volatility in the market and a more stable value for BTC.
In conclusion, the report released by Glassnode shows that the BTC supply has reached an all-time high of 66.974%, an indication that BTC is becoming more of a long-term investment for its holders. This is a positive sign for the cryptocurrency market, and investors and traders can use this data to make informed decisions about their investments.
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