Bitcoin accumulation continues, exchange holdings hit 5-year low
Long-term Bitcoin (BTC) holders are accumulating more coins, reading from the decreasing balances on top exchange s. On Aug. 31, data from Glassnode, a blockchain Analysis firm, reveals that the amount of “HODLed” or lost coins was at a five -year peak at 7.841 million BTC, or $213 billion. #Bitcoin $BTC Amount of HODLed or Lost Coins just reached a 5-year high of 7,840,723.861 BTC View metric:https://t.co/dJK8rxBVD3 pic.twitter.com/8Ga8nVvK7m — glassnode alerts (@glassnodealerts) August 31, 2023 The count of HODLed or lost coins involves tracking Bitcoin balances that have remained untouched for an extended period. This calculation involves subtracting the “liveliness” from one and then multiplying the result by the current circulating supply of Bitcoin. The metric takes into account coins held long-term and those stored in older addresses, accumulated during times when Bitcoin was relatively cheaper. Over time, the disregard for private keys has...