Long-term Bitcoin hodlers are apparently not selling despite 2021’s everyday highs, while nervous beginners are making a profit along the way.
According to Unchained Capital’s “Hodlwaves” chart – which illustrates the time since the BTC wallets last worked in the chain, long- and short-term activity has increased in 2021.
The graph shows the number of coins moving in the last 30 to 90 days is at its highest level since 2018. These addresses represent more than 15% and are currently the largest segment of BTC wallets.
Bitcoin wallets, which remained inactive for between three and five years, are currently the second largest segment, accounting for 13.5% of all addresses. These wallets have also gradually expanded in 2021, with spectators speculate the data may reflect a large number of BTC pocket holders who bought during the 2017 season and are held by the entire bear trend.
Although the share of wallets that have not been active for between five and ten years has been shrinking in recent years, the number of addresses that have been inactive for at least a decade has increased from about 1.7% two years ago to 10.7% today.
On March 11, CTO and co-founder of the crypto-analytics firm Glassnode, Rafael Schultze-Kraft, shared the data revealing the number of wallets that have not been active for the past three or more years has been steadily increasing since the end of December.
1+ years hodlers: sale
2+ years hodlers: sale
3+ years hodlers, already ‘in a bull market before and know how it works’: stacking bags# BitcoinGraph: https://t.co/7VRnyrWbaD pic.twitter.com/MsnZptKxGF
– Rafael Schultze-Kraft (@ n3ocortex) 10 March 2021
However, the data shows that the share of Bitcoin wallets that were inactive for at least twelve months has fallen from record highs of almost 65% in January to 55% today, with almost half of the Bitcoin wallets active in the past year.