$3.6 billion worth of Bitcoin coaxed from long-term storage by November rally
Amid November’s 42% Bitcoin rally, roughly 185,600 BTC that hadn't moved in at least 12 months was transferred on-chain. The November BTC rally to test all-time price highs saw more than 1% of Bitcoin’s supply move out of long-term storage.According to Unchained Capital’s ‘hodlwaves’ metric, which measures the time since Bitcoin has moved on-chain, roughly 15% of the Bitcoin that had not been moved for five and seven years as of Nov. 1 were finally transferred on-chain during the month of November.Nearly 1% of the total supply of #bitcoin moved out of long-term storage (>1 year in the same....
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A recent Glassnode report says some long-term holders (LTHs) of bitcoin offloaded part of their holdings and cashed out their profits during a bull-run. Still, the report explains that the sell-off, which has been noticeable since late November, is not necessarily a sign of an approaching bear market. Instead, as the data shows, BTC is poised for another rally. Since Nov. 26, when the price of BTC dropped by more than 17% in 24 hours, the digital asset has recovered and currently trades above $19,000. Some analysts believe that it is only a matter of time before the leading crypto....
Data reveals that mostly mid-to-long term holders were selling their Bitcoin during November, thus being responsible for the correction. Bitcoin UTXO Age Shows Mid-Term Holders Sold Their Coins In November As per the latest weekly report from Arcane Research, mid-term holders seem to be behind the decline in BTC’s price during the month of November. The relevant on-chain indicator here is the “UTXO Age.” UTXO stands for Unspent Transaction Output; you can think of it as a Bitcoin mechanic that keeps track of coins on the chain. The UTXO age metric measures how long it has....
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The Gnosis safe now contains the third-largest concentration of Ether, according to Etherscan, holding 2.2% of the coin supply — worth $2.9 billion. Decentralized finance platform Gnosis is now the third-largest holder of the Ether (ETH) coin supply. Gnosis’ multisignature storage safe received a deposit of 1,500,000 ETH on Thursday — worth over $1.7 billion at the time of the transaction.Although its foray into the storage industry began a little over a month ago, a vast majority of the ETH in the Gnosis safe appeared in the past 24 hours. Up until a few days prior, the address contained....