03 Mar Almost Half of All Bitcoin Has Not Moved in 2 Years
[ad_1]
42% of Bitcoin has not moved on-chain for at least two years, the highest concentration of hodling since June 2017.
Is Bitcoin preparing for a parabolic bullish move?
As of March 1st, about 42% of all BTC has not been moved on-chain (i.e. transacted) for at least two years.
The amount of BTC untouched in more than two years has not eclipsed 42% since July, 2017.
Read more in this week’s State of the Network:https://t.co/w0HtMWyw57 pic.twitter.com/wRrZkkCRJw
— Nate Maddrey (@natemaddrey) March 3, 2020
HODL Waves are periods of heavy bitcoin accumulation which can be monitored by Bitcoin Unspent Transaction Outputs (UTXOs). When block rewards are given to a miner, a UTXO is created. When BTC is spent, the UTXO becomes an input to the user receiving the Bitcoin, and any change is sent back to the spender as a different UTXO.
Every BTC transaction consists of inputs (spent BTC) and UTXOs (unspent BTC). My spent UTXO becomes an input sent to you, and that input becomes your UTXO to…
[ad_2]
Source link