There's a new generation of bitcoin HODLers.
These coins were accumulated throughout the recent bull market, which means new HODLers (meaning, those holding crypto) are sitting on a near 500% increase since October.
- These HODLers were “forged in the dynamic market rallies brought on in 2020 and 2021,” according to Glassnode. “Many are on their way to becoming classified as long-term holder coins.”
- BTC purchased between $10,800 and $58,800 now represents 25% of the total supply with no sign of slowing down, based on Glassnode’s data.
- This means HODLers have continued to accumulate BTC throughout this bull market.
- "HODLed coins are beginning to mature, and continued outflows from exchanges demonstrates accumulation is not slowing down," according to Glassnode.
Also, more BTC investors are moving their holdings into storage, which suggests less interest in short-term trading. Over the past 12 months, over 3% of the circulating BTC supply has migrated out of exchanges and into third-party wallets, according to Glassnode.
“Strong signals of accumulation show a supply vs. demand balance that is unlike any bull cycle we have seen before,” wrote Glassnode.
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