Hodlers Are Accumulating Record Number of Coins: Report
Despite the strong rebound of the price of digital gold since the beginning of the year, the availability of coins is severely limited due to the actions of hodlers.
Important metrics measuring “Bitcoin inactivity” have reached all-time highs, according to data from Glassnode.
The chart below depicts different “age” groups of coins, ranging from a year to five years or more, that have not been involved in any transactions during the specified periods.
The indicator for illiquid supply, which measures the number of coins held in wallets with minimal spending history, has reached a record 15.4 million BTC.
Changes in this indicator often coincide with increases in the withdrawal of funds from exchanges.
Since May 2021, investors have withdrawn over 1.7 million BTC in this manner, with a monthly outflow rate of 71,000 BTC.
A significant divergence is emerging between the supply of long-term investors, which is nearing an all-time high, and the supply of speculators, which is approaching a record low.
This trend reflects the growing scarcity of supply, as current holders are in no rush to part with their assets.
