Despite the rise of short-term Bitcoin trading in January, wallets that have not been active for at least three years make up the largest share of BTC holders.
Long term BTC investors
Long-term Bitcoin investors appear not to be selling despite 2021’s all-time highs, while newcomers to the field are making profits along the way.
According to Unchained Capital’s “Hodlwaves” chart, which visually shows the time that has passed since BTC wallets were last active on the blockchain, 2021 saw an increase in both long and short-term activity.
The chart shows that the number of cryptocurrencies that have moved in the last 30 to 90 days is at its highest level since 2018. These addresses represent more than 15% and currently make up the largest portion of BTC wallets.
Bitcoin wallets, which have been dormant for three to five years, are currently the second largest segment, representing 13.5% of all addresses. The number of these wallets has also steadily increased in 2021, and viewers think the data could reflect the large number of BTC bag holders that purchased and held throughout the full bear trend throughout the 2017 season.
While the share of inactive wallets for five to 10 years shrank last year, the number of addresses that have not been active for at least ten years has increased from approximately 1.7% to 10.7 two years ago.
On March 11, Rafael Schultze-Kraft, co-founder of CTO and blockchain crypto analytics firm Glassnode, shared data revealing that the number of inactive wallets has steadily increased since the end of December for the past three or more years.
1+ year hodlers: selling
2+ year hodlers: selling
3+ year hodlers aka "been in a bull market before and know how this works": stacking sats#Bitcoin
— Rafael Schultze-Kraft (@n3ocortex) March 10, 2021