Bitcoin Price Upsurges, But 60% of All Bitcoin is Being HODLed - Today's Gazette - Cryptocurrency, Bitcoin News
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Bitcoin Price Upsurges, But 60% of All Bitcoin is Being HODLed

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Bitcoin Price Upsurges, But 60% of All Bitcoin is Being HODLed

Around 60% of all existing Bitcoin have not moved an inch in the last one year, a significant fund amounting to 10.5 million Bitcoin.

What this infers is that nothing less than 7 million Bitcoin have been in circulations in the last one year. However, the circulating amount also contains around 657,000 BTC, which is the amount of Bitcoin mined in over a year.

Bitcoin Chart

As reflected in the above chart, since January 2012, nothing less than 2.4 million Bitcoins have not moved since then. However, in the last 3 years, around 5 million BTC have been circulating. It is either these BTCs are not accessible again, or are currently being HODLed for future gains.

Bitcoin Upsurges as Crypto Market Turns Green

At the time of writing the whole market has turned green with Bitcoin changing hands at $7,944. The digital asset has seen around 8% price increase in the last 24 hours.

Around 23 billion of Bitcoin has been circulating in the market for the past 24 hours. As Bitcoin is closing the $8,000 gap gradually, other cryptocurrency asset are following with high increase.

Ripple’s XRP Returns to $0.4, When $0.5?

With nearly all altcoins appearing to be significantly nourished, Ripple’s XRP is now trading at $0.4 with 7% growth in the last 24 hours.

Since 2017 when Bitcoin reached, $19,800 and XRP reached $3.8, the cryptocurrency market has suffered great blows in the hands of the bears, with Bitcoin loosing around 80% of its value since then.

However, Bitcoin started leading crypto market return since 7 weeks ago when it jumped from $3,100 to over $5,000 before seeing a surprising push to $8,500 this week.

Meanwhile, Ripple’s XRP touched $0.474619 USD last week, and there is hope the digital asset will return to that mark this week again and even go beyond.

One of our analysts posited that everything is now set for Ripple’s XRP to move higher, since Ripple Inc., the blockchain firm behind the increasing usage of XRP, is preaching the adoption of the digital asset to its myriads of partners which includes but not limited to commercial and central banks.

Olayode has made meaningful contributions to Huffington Post, Thrive Global, Oracle Times, The Independent Republic, Forbes, Washinghton Post and a host of other news magazine. He's a blockchain enthusiast covering news on notable cryptocurrencies and seminars from far and within. Contact: yusuff.olayode@todaysgazette.com

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