According to a new research report released by Digital Asset Data, more than ten million BTCs are sitting dormant for a full year. Data shows that untransferred bitcoins account for about 60% of the current coin supply and this is the largest number of dormant coins since early 2017.
10.7 million BTC for a full year
Pentec analytics company and cryptocrat Digital Asset Data recently released findings showing that a number of bitcoin conversions that did not pass a year touched 10.7 million BTC ($ 86.4 billion). At press time, there are 18.1 million BTC in circulation and the number of uninfected currencies accounts for about 60.5% of the current supply. Despite the large number of inactive bitcoins throughout 2019, BTC prices are seeing significant volatility throughout the year. Furthermore, in 2019 crypto whale watchers witnessed significant extensions of BTC transfer from one wallet to another. Not to mention the subsidy to block BTC cuts in mid-May, and the 10.7 million BTC are the largest number of bitcoins that have not passed since the start of the 2017 bull run.
In addition to the number of Bitcoin reports that were not transmitted by Digital Asset Data, in November, Delphi Digital explained that more than 21% of the BTC had not passed during the past five years. 21.6% or 3.8 million BTC is another all-time high for the network, and Delphi Digital scanned the blockchain’s Unspent Transaction Output (UXTO) data for its findings. “The supply that has not passed for at least one year started the year at 55.6 percent, peaked at 60.8 percent at the end of April, and is currently at 58.3 percent,” the study notes. In terms of two-year numbers, 38.7% of the distributed supply did not pass for 24 months and the same index rose from 34% when it was registered in December 2018. Delphi Digital’s year-over-year gains in terms of non-invested currencies emphasize that longer-term currencies give a longer-term market view relative to cyclical movements.