In a remarkable revelation about Bitcoin, more than 30% of its supply hasn’t moved in over five years, highlighting the strong commitment of long-term holders. This data, derived from the Unspent Transaction Outputs (UTXOs) of first-generation blockchains like Bitcoin, provides insights into user behavior and fund management.
Did you know that more than 30% of the Bitcoin supply hasn't moved in over 5 years?📖 Many first-generation blockchains, such as Bitcoin, use UTXOs to account for users’ funds. Based on the UTXOs, we can see how long holders hold on to their funds before spending them.💎… pic.twitter.com/tQ9m8HU3QM
— IntoTheBlock (@intotheblock) July 5, 2024
Many first-generation blockchains, such as Bitcoin, use UTXOs to account for users’ funds. By analyzing UTXOs, it’s possible to determine how long holders retain their funds before spending them. This method of accounting has shed light on the substantial portion of Bitcoin that remains unmoved for extended periods.
While some unmoved Bitcoin could be attributed to lost funds, a significant portion likely belongs to dedicated long-term holders. Despite market volatility, this steadfastness in holding Bitcoin underscores the firm belief in the cryptocurrency’s future potential among its core supporters.
Memecoins Show Resilience Amid Market Downturn
In the face of a general market downturn, many meme coins continue to maintain a significant portion of their holders in profit. A recent chart highlights the percentage of profitable holders across various meme coins, indicating a surprising resilience in this sector of the cryptocurrency market.
Among the meme coins, $MOG and Pepe ($PEPE) lead the space with the highest percentages of holders in profit. Despite the broader market challenges, these meme coins have retained a strong profitability rate for their investors.
Traditional favorites such as Dogecoin ($DOGE) and Shiba Inu ($SHIB) also continue to show considerable resilience. Both $DOGE and $SHIB have a notable number of holders who remain profitable, reflecting the enduring popularity and investor confidence in these established meme coins.
The stability shown by long-term Bitcoin holders and the resilience of meme coin investors in maintaining profitability highlights the diverse and dynamic nature of the cryptocurrency market. Despite fluctuations and downturns, there remains a robust core of believers and profitable participants in the crypto space.
