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10% of Bitcoin’s supply has been untouched for over 10 years: Report

Published

2 Monaten ago

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A significant amount of Bitcoin’s (BTC) total supply has not moved for more than 10 years, according to data from cryptocurrency analytics data provider Glassnode.

During this decade-long interim, 1.8 million Bitcoin (of the current 18.5 million supply) has been locked in dormant Bitcoin addresses. Its cumulative value amounts to more than $23 billion at the time of publication, according to data from Coin360.

BTC dormant over 10 years. Source: Glassnode

A large portion of these coins may belong to Bitcoin’s mysterious creator, Satoshi Nakamoto — who disappeared from the community in 2011. Nakamoto may own over 1 million of these as-yet untouched assets, which are purported to be lost forever.

Despite the large number in stagnation, some previously uncirculated Bitcoin began to move for the first time in May. One wallet containing coins from February 2009 suddenly sent 50 BTC to two different addresses without warning or explanation. People in the blockchain community subsequently suggested three main scenarios: These coins may have belonged to the family of late cryptographer Hal Finney, early developer Martti Malmi or possibly Satoshi Nakamoto themself. This speculation was largely denied by the parties in question, except for Nakamoto, who remains elusive.



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Bitcoin

Dormant Bitcoin on the move as price volatility rises

Published

24 Minuten ago

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Dezember 29, 2020

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In a period filled with holidays, the cryptocurrency industry refused to take a day off. Strong market performances from Bitcoin (BTC) and some other high profile alt-coins like Ether (ETH,) was offset by the legal action against Ripple by the United States Securities and Exchange Commission. In response, a number of prominent trading platforms, including Coinbase, Crypto.com, and FalconX responded by halting trading or deposits of the XRP token.

The latest findings by Santiment, published in Cointelegraph Consulting’s biweekly newsletter, indicate that the balance of wallets holding dormant BTC over a 365-day period has become more active. Between December 13 and 20, more than 146,620 BTC (~$3.9 billion at the time of writing) that fit this description moved on the blockchain, marking its highest weekly volume since July 2019.