Altcoin News: 10.5 Million Bitcoins Have Not Moved in the past Year

May 20, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

According to Bitinfocharts portal 10.5 million Bitcoins, or 60% of the currently issued cryptocurrency coins, did not leave the wallets of their owners for 12 months. Accordingly, the total circulating amount of Bitcoin during the last year was about 7 million BTC.

Amount of Bitcoin not circulating, May 2019 Credit: Bitinfocharts

As can be seen on the graph, 2.4 million BTC did not enter the circulation from the beginning of 2012, which may coincide with the most cautious estimate of the number of coins forever out of circulation. At the same time, almost 5 million BTC remains on unused wallets for the last three years.

Thus, the actual amount of Bitcoins available for sale may be significantly less than some market participants and analysts are inclined to consider.

According to other statistics presented on the website, over the past 24 hours, the volume of Bitcoin transactions amounted to 924,805 BTC ($7 billion).

Other large cryptocurrencies, including those oriented to the execution of payment functions, significantly lag behind Bitcoin by this indicator. In Bitcoin Cash, for example, it was equal to $1.7 billion. For comparison, MasterCard has a daily average volume of processed transactions of $11 billion, and the current maximum of Bitcoin is at $17 billion.

Author: Marko Vidrih