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Bitcoin's circulating supply is now dominated by long-term holders, defined as addresses holding coins for at least 155 days, reaching an all-time high of three-fourths of the total cryptocurrency supply.
- Blockchain analytics firm Glassnode reports a remarkable surge in the balance held within these wallets, with an increase of 62,882 BTC ($1.83 billion) this month. This achievement has propelled the total holdings to a record-breaking 14.52 million BTC, surpassing the previous peak of 14.48 million BTC recorded on May 21.
- The latest peak signifies that holders possess 75% of the total circulating supply of 19.437 million BTC.
- Circulating supply denotes the overall quantity of coins that are presently accessible for trading within the market.
- "This suggests HODLing is the preferred market dynamic amongst mature investors," Glassnode tweeted.
- The inflow rate into wallets owned by illiquid entities, or network participants with limited to no history of spending, continues to show strength, indicating ongoing accumulation and a decrease in selling pressure within the market. The number of coins held by these illiquid entities has experienced a significant surge of over 90,000 BTC this month.
