The majority of long-term Bitcoin owners have stopped spending digital assets. Glassnode, a crypto analytics platform, shows that the total percentage of Bitcoin supply that was active nearly 5 years ago has reached 23.15%. This is the highest recorded level.
These numbers show a strong holding trend among BTC-whales. The Bitcoin whales are not panic selling despite the recent plunge in the crypto markets. In the past three months, coins older than 12 month have risen by almost 5.4%.
The BTC supply over 1 year has increased steeply since Oct 2021, increasing by 5.4% of the circulating BTC. This means that 5.4% was moved in the early bull between Oct 2020 and Jan 2021, and is still held in those wallets,” Glassnode stated.
Although dormant BTC accounts have increased significantly in the past few months, crypto addresses that have at least 0.01 BTC also have seen a significant increase. Glassnode reports that 9.4 million addresses currently hold more than 0.01 Bitcoin.