Important facts:
On a daily basis, outbound foreign exchange flow exceeds $ 150 million.
Strong HODLers keep collecting Bitcoin.
Just over three-quarters of the bitcoins in circulation offer their owners profits, as Glassnode revealed in its weekly report on this cryptocurrency. 76.2% of the bitcoins in circulation bring benefits to their holders, which is about 14.41 million BTC out of 18.907 million in circulation.
Regarding the percentage of owners presenting income, the report presents the graphical evolution of this indicator since November 2020. Last July, 76% of companies presented profits, a value similar to the current one.
The July price, which was among the lowest levels this year, is listed at $ 32,500, almost 50% less than the current price. Nevertheless, the share of the shareholders in the profit was the same as it is today.
Share of Bitcoin units in profit. Source: Glassnode.
Another way to present the information is by distributing the unrealized price, which shows the total circulation of BTC with the last price it changed hands at. The graphic below shows that 24.6% of the offer was bought above the current price of around USD 47,000. It follows that roughly a quarter of the currency, or 1 in 4 BTC, is in the red.
The accumulation of hodlers almost quadruples the mined BTC
The so-called HODLers, those market participants who have little willingness to sell, have continued with the accumulation, the study emphasizes.
The HODLers continue to maintain accumulation. Source: Glassnode.
The offer from these owners was sold along with much of the market in May. “However, they have since maintained constant accumulation pressure and are now taking possession of coins at a daily coin issuing rate of 3.4x,” the report said. In other words, strong HODLers absorb supply at more than three times the rate of new coins mined each day.
Recent price weakness hasn’t resulted in sell-offs, says Glassnode. Although BTC inflows into the exchanges temporarily exceeded $ 200 million per day in October, net BTC flows left the exchanges last week with average daily values of $ 150 million to $ 175 million.
A December 17 analysis by CriptoNoticias found that exchanges’ BTC stocks fell to 13%, the same level as in February 2018.
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