In a fascinating insight into Bitcoin, over 30% of its total supply has remained untouched for more than five years, a testament to the steadfast commitment of long-term holders. This revelation, based on analysis of Unspent Transaction Outputs (UTXOs) typical of first-generation blockchains like Bitcoin, offers valuable insights into user behavior and financial strategies.
Did you know that more than 30% of Bitcoin’s supply has been inactive for over five years?
Many first-generation blockchains, such as Bitcoin, employ UTXOs to track users’ funds. By examining UTXOs, we can observe how long investors retain their funds before utilizing them.
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— IntoTheBlock (@intotheblock)
July 5, 2024
First-generation blockchains like Bitcoin utilize UTXOs to manage users’ funds. Through UTXO analysis, it becomes apparent how long-term holders manage their assets before making transactions. This analytical approach has highlighted a significant portion of Bitcoin that remains dormant over extended periods.
While some inactive Bitcoin may be due to lost access, a substantial portion is likely held by dedicated long-term investors. Despite market volatility, this steadfast holding of Bitcoin underscores strong confidence in the cryptocurrency’s future among its core supporters.
Meme Coins Demonstrate Resilience Amid Market Turbulence
Amid a broader market downturn, many meme coins have managed to keep a significant number of their holders in profit. Recent data illustrates the percentage of profitable holders across various meme coins, showcasing surprising resilience in this sector of the cryptocurrency market.
Leading the pack in terms of profitability are $MOG and Pepe ($PEPE) among meme coins. Despite market challenges, these coins have maintained a robust profitability rate for their investors.
Established favorites such as Dogecoin ($DOGE) and Shiba Inu ($SHIB) also continue to exhibit resilience, with a substantial number of holders still profitable. This resilience reflects ongoing popularity and investor confidence in these prominent meme coins.
The stability observed among long-term Bitcoin holders and the resilience of meme coin investors in maintaining profitability underscore the diverse and dynamic nature of the cryptocurrency market. Despite fluctuations and downturns, there remains a steadfast core of believers and profitable participants in the crypto space.