In a fascinating discovery about Bitcoin, over 30% of its supply has remained untouched for more than five years, demonstrating the strong resolve of long-term investors. This information, obtained from the Unspent Transaction Outputs (UTXOs) of first-generation blockchains like Bitcoin, offers valuable 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 track users’ funds. By analyzing UTXOs, we can observe how long holders keep their funds before spending them.
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— IntoTheBlock (@intotheblock)
July 5, 2024
Many first-generation blockchains, like Bitcoin, use UTXOs to account for users’ funds. Analyzing UTXOs allows us to see how long holders retain their funds before using them. This accounting method has revealed that a substantial portion of Bitcoin remains unmoved for long durations.
While some of this unmoved Bitcoin may be due to lost funds, a significant portion is likely held by dedicated long-term investors. Despite market volatility, this commitment to holding Bitcoin underscores the strong belief in the cryptocurrency’s future potential among its core supporters.
**Memecoins Show Resilience Amid Market Downturn**
Despite a general market downturn, many meme coins continue to keep a significant portion of their holders in profit. A recent chart illustrates the percentage of profitable holders across various meme coins, showcasing a surprising resilience in this sector of the cryptocurrency market.
Among meme coins, $MOG and Pepe ($PEPE) lead with the highest percentages of holders in profit. Despite broader market challenges, these meme coins have maintained strong profitability for their investors.
Traditional favorites like Dogecoin ($DOGE) and Shiba Inu ($SHIB) also continue to exhibit 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 highlight 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.