It’s not necessarily true that a market that is busy is healthy. A network’s level of activity can clearly reveal its stability, but a decline in activity may also foretell the beginning of a positive trend. Consider the Bitcoin network as an illustration.
Read CRYPTONEWSLAND onThe majority of Bitcoin’s circulating supply hasn’t been impacted by its price decline. Over 65% of Bitcoin’s circulating supply, or around 12.35 million BTC, hasn’t changed hands in at least a year, according to statistics from Glass node.
The supply that hasn’t been active in at least two years has increased significantly, and the supply that hasn’t been active in at least three years has increased even more.
According to data from Glassnode, 8.55 million Bitcoins, or 45% of the circulating quantity, have not changed hands in at least two years, while 7.22 million Bitcoins, or 38% of the supply, have not done so in three years.
The business stated that “BTC bear markets are characterized by an increase in dormant supply.” According to Glassnode’s most recent study, the 2022 bear market has been particularly difficult for investors in digital assets, with Bitcoin and Ethereum falling by 75% and 85%, respectively, from their all-time highs.
Such occurrences were prevalent in previous bear markets when investors witnessed the collapse of unrealized profits as the market traded below its total cost bases.
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