All those who are part of the crypto world, do so hoping to make a profit. Whether due to an extraordinary increase in the price of Bitcoin, trading operations in the financial market or simply due to its consolidation as a world currency. Therefore, it is good news for the cryptocurrency ecosystem that 83% of Bitcoin addresses present profits.
Make profit in the crypto world
The world of cryptocurrencies is extremely broad. And it makes sense, considering that around Bitcoin, a true network of companies, currencies, organizations, and developers has been formed, working day by day to improve the crypto world. Creating new capabilities and increasing the possibilities of existing ones.
Thus, the birth of Bitcoin not only allowed the emergence of the first cryptocurrency in history. Rather, it was the event that catalyzed the start of the crypto revolution. The process that has led to the emergence of exchanges like Binance, financial companies like Ripple, games like CryptoKitties, and of course virtual currencies like Ethereum.
Within this technological revolution, trading has become one of the most representative activities in the world of crypto assets. With several thousand users participating daily in cryptocurrency exchanges. Whether it’s for short-term profit, buying and selling quickly to take advantage of small price variations. Or in the long term, keeping Bitcoins for years in their addresses on the BTC Blockchain.
Most Bitcoin addresses present gains
This is why the Glassnode figures indicating that 83% of Bitcoin addresses present profits are so important. Well, they show that this percentage of the total unique addresses on the BTC Blockchain has seen an increase in the price of the coins they have stored since the last movement made with them. A fact that the Vice President of Huobi, Ciara Sun, commented through her Twitter account:
Which also represents an important recovery since the fall of March 12. When the Coronavirus crisis led to a collapse of the financial markets, it led to assets like Bitcoin and gold. Causing the number of addresses presenting profits to drop to just 45% of the total.
Even so, the 83% figure would still be far from the maximum reached during the year. When on June 1 Bitcoin managed to position itself above $ 10,400 per BTC. Taking the percentage of unique addresses that had profits up to 89% of the total.
This also coincides with the data from the latest Chainalysis analysis, which showed that of the little more than 18 million Bitcoin mined so far.
Eleven million of them are held in directions as long-term investments, in a strategy known as Hodling. So it makes sense that they present gains, at a time of high and stable prices for BTC. What makes this our Today’s Data here at CryptoTrend.