Bitcoin Long-Term Holders Gain 90 Percent of Total Supply: Glassnode

Bitcoin, the world’s oldest and largest cryptocurrency by market capitalization, is currently struggling to turn a profit amid the global economic downturn. A new report from Glassnode states that long-time holders (LTH) of this virtual asset currently hold gains of 90 percent of the total supply of BTC. According to CoinMarketCap, Bitcoin currently has a circulating supply of 19,061,762 coins. The Glassnode report also noted that long-term holders dominated the circulation of bitcoin in recent days.

In recent weeks, the percentage of BTC’s The supply crossed the 90 per cent level in gains in possession of LTH.

The term ‘profit in supply’ means the total number of bitcoins Who keeps profit in BTC market. The metric is calculated by examining the on-chain history of each BTC token to see at what price it was last sold.

If the current price of the BTC token exceeds its buy rate, it is believed that the coin has managed some profits.

At this point, short-term BTC holders (STH) have only ten percent of the supply of BTC in profit in their wallets.

Glassnode reports that at this point in time, BTC’s STH is at the peak of its pain as they have no ‘unrealized gains’.

Bitcoin dominance is a measure of the ratio of its market cap to the rest of the cryptocurrency markets. Allegedly Despite the fall in its price, it rose more than 44 per cent to a seven-month high.

At the time of this writing, BTC was trading at $31,879 (approximately Rs.24 lakhs) according to Gadgets 360. crypto price tracker,

In addition to being viewed as an investment tool, other use-cases for BTC in industrial markets are also being discussed.

For example in March, the financial services giant Deloitte conducted a new study showing how bitcoin could be used to create a cheaper, more secure and faster ecosystem for digital fiat currency or more specifically central bank digital currency or CBDC.

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