Long-term Bitcoin hodlers don’t seem to be selling despite 2021 all-time highs, while nervous newbies have taken profits along the way.
According to Unchained Capital’s “Hodlwaves” chart, which visually represents the time since the last active activation of BTC wallets in the chain, both long-term and short-term activity increased in 2021.
Hodlwaves: Unchained Capital
The graph shows that the number of coins that have moved in the last 30 to 90 days has reached its highest level since 2018. These addresses account for more than 15% and are currently the largest segment of BTC wallets.
Bitcoin wallets that have been inactive for between three and five years are currently the second largest segment, accounting for 13.5% of all addresses. The number of these wallets has also steadily increased in 2021, with viewers speculating on the data possibly reflecting a large number of BTC bag holders who bought during the 2017 season and held them throughout the bear trend.
While the percentage of wallets that have been inactive for five to ten years has apparently declined over the past year, the number of addresses that have been inactive for at least a decade has gone from around 1.7% two years ago to 10, 7% increased today.
On March 11, the CTO and co-founder of on-chain cryptanalysis firm Glassnode, Rafael Schultze-Kraft, shared data showing that the number of wallets that have been inactive for the past three or more years has since Rose steadily at the end of December.
1+ year Hodler: sale
2+ years Hodler: sale
Over 3-year-old Hodler alias “have been to a bull market before and know how it works”: Stacking Sats # Bitcoin
Diagram: https://t.co/7VRnyrWbaD pic.twitter.com/MsnZptKxGF
– Rafael Schultze-Kraft (@ n3ocortex) March 10, 2021
However, the data shows that the percentage of Bitcoin wallets that have been inactive for at least 12 months has fallen from record highs of nearly 65% in January to 55% today, with nearly half of Bitcoin wallets being active last year.
