Bitcoin adoption up despite Binance FUD

BTC holders are on the rise

The growth in addresses with 0.1 or more bitcoin is a strong indicator that the cryptocurrency is becoming more mainstream and that new investors are entering the market.

A trend like this is particularly noteworthy, as it demonstrates that even in a period of price fluctuations and market uncertainty, the adoption of bitcoin continues to expand.

Furthermore, it highlights that people are not merely looking to make short-term gains from trading bitcoin, but are instead choosing to hold onto the currency, potentially viewing it as a long-term store of value.

Another crucial metric from Glassnode is the percentage of the bitcoin supply that has been inactive for at least two years, which has just reached an all-time high of 52.679%. This indicates that a majority of bitcoin holders are currently adopting a “hold” strategy, and not engage in trading or spending.

The rise in long-term holders is a positive sign for the stability of the bitcoin market, as it suggests that investors have confidence in the long-term potential of the digital asset.

These holders are likely to be less swayed by short-term price fluctuations and more focused on the bigger picture. This behavior is reminiscent of the traditional “buy and hold” strategy often employed by investors in stocks and other assets, which can contribute to a more stable market environment.

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Author: Adrian Zmudzinski

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