CryptoQuant Data Analysis Firm Reports Bitcoin HODLing Continues Unabated!
According to data obtained from on-chain analytics company CryptoQuant, it has been revealed that over 50% of the Bitcoin supply remains inactive.
Holders Refuse to Let Go of Their Bitcoins
This means that the tracked wallets containing these Bitcoins have not witnessed any movement or exchange, indicating a steadfast belief in the long-term potential of the cryptocurrency.
This data further strengthens the notion that Bitcoin may experience significant price increases, as holders remain unwavering in their conviction regarding its future value.
Despite recent negative events such as the Mt. Gox hack and the DMM hack, sentiment surrounding Bitcoin remains optimistic.
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Singapore-based QCP Capital has observed an uptick in trading activities and a sustained positive outlook. “Despite the negative headlines, the market continues to show resilience,” stated QCP Capital in a recent statement.
Among the top cryptocurrencies with market capitalizations exceeding $1 billion, FLOKI, a dog-themed token, and ENA, a synthetic dollar project by Ethena, both recorded gains of over 10%.
While the market eagerly awaits further developments, particularly the potential approval of additional cryptocurrency ETFs, overall sentiment remains positive, indicating the possibility of continued growth for Bitcoin and other major digital assets.
*This article does not constitute investment advice.
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