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15-Million Bitcoin stagnant in past 6 months

NEW DELHI: The total number of Bitcoins (BTC) that have been dormant for at least six months has risen to above 15 million, which is a serious concern for many in the cryptocurrency world during the worsening crypto winter.

According to a study by CryptoMonday.de, investors who hang onto their Bitcoin for a longer period of time are known as “hodlers,” and their popularity is growing.

Hodlers are long-term bitcoin investors that acquire and keep their investments regardless of price.

With a few outliers in 2018 and late 2021, the stagnant BTC supply has gradually increased throughout the years since it was first observed. “his shows that Bitcoin investors are expanding their holdings rather than trading or transferring them around.”, the reports said. “The steady reduction in BTC values, which has currently decreased people’s interest in trading, is to blame for the standstill. Furthermore, it’s possible that less people are using the network now than they once were. The rise in popularity of alternative cryptocurrencies like Ethereum could be to blame for this “said CryptoMonday CEO Jonathan Merry.

Many people in the cryptocurrency world may be concerned about the current state of Bitcoin.

For starters, it indicates a lack of market liquidity that could result in significant price swings if there is even a little shift in demand.

It can also be an indication that institutional investors are reducing BTC’s volatility and making it into an asset with little to no price fluctuation, the report  said.

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