HODL Waves Chart Reveals Bitcoin Holders’ Firm Grip – 42% Hasn’t Moved in 2 Years

According to a report written by Coin Metrics analyst Jacob Franek, as of March 1, 2020, roughly 42% of all BTC has not moved onchain in more than two years. The metric is the largest number since June 2017 and the study notes that “HODL waves” have grown larger.

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42% of All the Bitcoin in Existence Has Not Moved in Two Years

On March 3, Coin Metrics published its “State of the Network” update which covers the BTC network by leveraging various perspectives and data sets. Within the report written by Jacob Franek, the researcher discusses unspent transaction output (UTXO) age analysis and HODL waves. News.Bitcoin.com first reported on the subject of HODL waves in April 2018, after Dhruv Bansal, the cofounder of Unchained Capital, published an in-depth report on the subject. Essentially, Bansal and his team described how they analyzed the BTC network’s…