According to a study by network analytics provider Glassnode, 95% of bitcoins that were recently modified less than three months ago have been migrated to blockchain.

Glassnode’s report “Week On-Chain” showed that only 5% of consumed products are older than 90 days, indicating that the vast majority of bitcoins moving along the chain are “newborn coins.” …

Other data from Glassnode showed that titles that have held BTC for at least three years have increased their holdings significantly in the last six to 12 months, while short-term holders have made a profit since the beginning of 2020.

Glassnode defines “long-term holders”, or LTH, as wallets that hold bitcoins for more than 155 days, while “short-term holders”, or STH, are described as wallets that move bitcoins around a chain for 155 days. Or you get coins.

The report confirms that LTH tends to understand bitcoin better, leading to the accumulation of BTC in bear markets and destroying some of them during bull markets. On the contrary, he added that STH is likely to be either new players in the market or short-term speculators who often move value between exchanges.

At current prices, Glassnode found that 10.85 million BTC, or 58% of Bitcoin’s traded supply, is currently profitable based on the last time it was transferred to the chain, while 5.3 million BTC is currently in profit and stored in STH- wallets. .

Glassnode also noted that LTH collects more coins than in previous market cycles.

The analysis provider also found that the number of active new organizations has recently risen to a full-time high, indicating that several new retail investors have recently entered the room.

Source: CoinTelegraph

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