Bitcoin Sees “Hodling” for Dear Life as Coin Movements Freeze

Wallets large and small are showing reluctance to spend or move Bitcoin (BTC) in a trend which has accelerated with the persistent price stagnation and lower trading activity. The network load remains relatively modest, and BTC coins are simply not used or moved. Unspent Transaction Outputs, a metric based on transactions, peaked in January 2018 and have been sliding ever since. Based on UTXO data, BTC movements indicate a tendency for holding onto coins.

Cambridge, Massachusetts-based Coin Metrics, which also tracks Bitcoin behavior, has released its own data. It covers “old” BTC coins (excluding newly mi…

This article appeared first on Cryptovest

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