TechFlow reports, according to data from intotheblock, over 30% of the Bitcoin supply has not moved in the past five years.
Many first-generation blockchains (such as Bitcoin) use the UTXO model to record user funds. Based on UTXO data, it is possible to observe how long holders keep their funds before spending them.
Although some of the unmoved bitcoins may be lost, the majority likely belong to long-term holders. This indicates that despite market volatility, there remains a group of steadfast Bitcoin believers.
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