Glassnode Reveals That Most Bitcoin Holders Are Long-term Investors

The crypto-related data firm has been revealing some insights concerning long-term investors for some time, and now it has done new researches to bring new data. The growth of the digital asset firm has spearheaded more research as holders exhibit some interesting buying and selling behaviors. The on-chain data firm explained that around three-quarters of circulating Bitcoin last moved when the crypto was below the $10,000 mark.

This shows that many investors have made significant profits from their digital asset sale as the current market value is around $57,000 as at press time. With this new information, it could mean that many investors are in for the long-term. The company revealed how the sellers had held their crypto since it was below $10,000.

Glassnode shares how investors are going long-term

The data firm explained how 25% of the circulating crypto last traded between $10,000 and around $58,000. The asset had traded within the $10,800 range several months ago and with the new data suggesting that one out of four circulating Bitcoin last moved during the second quarter of 2020 or the first quarter of 2021.

The report suggests that many Bitcoin holders are going long-term despite Bitcoin’s growth not being as steady as it used to be. Many BTCs have been left untouched for some months, according to Glassnode. Most circulating assets have not moved for about 155 days, showing how aggressive the long-term trend is becoming.

This has caused an increase in the number of coins entering into the illiquid supply. The supply change, known as the illiquid supply change, has shown a change in the 30 days in the supply. There is now a considerable level of HODled cryptos. Glassnode explained the accumulation rate has been growing steadily over the past few months, with over 130K BTC being stored regularly.

The firm’s Coin Days Destroyed metric shows how investors hold their cryptocurrency to enjoy better returns. The unexpected Bitcoin growth from $3,000 to $58,000 within the space of one year shows that investors would likely continue keeping their crypto to enjoy more attractive gains.

Long-term investors buy more Bitcoin

Glassnode explained that during the bull runs, the investors intensified their buys throughout that period. Another problem with traders is the profit-taking that has the potential to destroy the crypto. Aside from Glassnode’s analysis, Bitcoin’s Hodlwave metric shows an increase in the number of long-term digital asset holding.

The market’s situation has led to the circulation of some of those long-term cryptos and investors wanting to secure profits gotten from their digital assets. New data shows how two-third of the crypto supply change hands within the last six months. Most of the cryptos moved around early 2021. There has also been an increase in Bitcoin activities over the past seven days as investors have been making new decisions. The digital asset space continues to grow dominant even with different challenges, and Bitcoin is the asset that paved the way for other virtual assets to grow.

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