Over the past 12-plus months, about 10.7 million bitcoins were motionless at their addresses, which is the highest indicator since 2017. It is reported Coindesk with reference to the data of the analytical company Digital Assets Data.
This also means that of the 18.14 million bitcoins released to date, almost 60% were in sleep mode, while the remaining 40% participated in market movements.
“So many fixed bitcoins are an obvious sign of a growing Hodler community.”– said the technical director of Komodo Platform Kadan Stadelman.
According to him, the possible reason is that many investors expect that after the May halving, the price of bitcoin will rise significantly. At the same time, Stadelman does not exclude the possibility that if these expectations are not met, some investors will want to sell their coins.
Digital Assets Data researcher Kevin Kaltenbacher also does not rule out that such a large number of fixed bitcoins is due to the fact that investors could buy them during a bull rally in late 2017, when the first cryptocurrency reached a historic high of around $ 20,000. Now they are waiting, that prices will return to previous levels and are in no hurry to part with their bitcoins.
Recall last month, the head of Digital Assets Data Ryan Alfred declaredthat despite a significant reduction in prices compared to December 2017, the most capitalized cryptocurrencies are more attractive to investors than traditional assets like Nasdaq and S&P indices, oil or gold.
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