- A Delphi Digital report shows that 59% of the Bitcoin supply is being HODLED
According to a report from crypto research firm Delphi Digital, the amount of Bitcoin HODLING is at all-time highs, with 59% of the entire Bitcoin supply being held for more than one year. The amount of Bitcoin that has been held for more than two years is crawling upwards and is around 40%. In-fact, USD 1.6 billion of Bitcoin purchased during the late 2017 bull run has not moved. This suggests that numerous investors expect Bitcoin to head back towards all-time highs near USD 20,000.
Additionally, the number of Bitcoins that have been held for more than 5 years is consistently rising and is now approaching 20%. This is notable since this group of HODLERS has already made an enormous amount of money, but are perhaps continuing to hold in expectation of Bitcoin continuing to gain value in the long term.
Interestingly, so much Bitcoin is currently being held that it is causing trading volumes to shrink. This could be a sign that market supply is drying up due to HODLING, which could eventually lead to a Bitcoin rally.
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