June 20 (Cointime) - Despite ongoing regulatory challenges and a relatively quiet market, data from blockchain transactions suggest that larger cryptocurrency investors are holding on to their assets during this period of uncertainty.
The number of unique addresses holding at least one bitcoin has reached a new high of over one million, with addresses holding more than 10 BTC also reaching heights not seen since September 2019.
Additionally, the amount of bitcoin held in dormant wallets has hit an all-time high of 15.2 million BTC, while exchange balances have dropped to their lowest levels since January 2018.
This suggests that more holders are choosing to hold onto their coins rather than spend them, potentially leading to a period of gradual accumulation over the next six months.
However, regulatory scrutiny and market downturns have led to decreased trading volumes and liquidity, with some large trading firms withdrawing from certain market segments.
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