Bitcoin (BTC): 3 Silent Network Movers No One Pays Attention To By U.Today

7 views 7:40 am 0 Comments December 19, 2023

Based on this, a class of address holders dubbed “Holders” are helping to solidify the growth of the coin.

Holders, or addresses that have held their BTC for more than one year, account for 69.23% of all addresses holding the coin. This surpasses the combination of “Cruisers” or accounts that sell regularly, amounting to 23.99%, and “Traders” or those that have held for at least three months, accounting for 6.78% of all addresses.

The higher this hashrate, the more difficult BTC production is and, essentially, the more secure the network is as well. With the , more miners are preparing for this event by plugging in more miners into the network, a move that can significantly boost the hashrate and contribute indirectly to the scarcity of the asset.

to data from IntoTheBlock, the current exchange netflow is pegged at negative $62.57 million. This implies more money is leaving exchanges into self-storage as it reduces the underlying selling pressure, boosting price sentiment.

This article was originally published on U.Today