Bitcoin (BTC) Active Supply Hits New All-Time High in 3 Years

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Sat, 04/11/2020 - 11:00
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Yuri Molchan
As the BTC active supply over 2-3-year period has grown to a new ATH, the amount of wallets holding more than 1 Bitcoin has also hit a new all-time high
Bitcoin (BTC) Active Supply Hits New All-Time High in 3 Years
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With the third Bitcoin halving expected on May 12, making it almost exactly a month ahead, some Bitcoin holders have started moving their funds – this is clear from the recent data from the Glassnode agency.

People are moving their BTC but reluctantly

The most recent tweet states that the active Bitcoin supply within the last two-three years has reached a new all-time high of 2,774,058. It seems that the active BTC supply has been making a very tiny increase, though, (the previous ATH is less than 1,000 BTC smaller) since there are a lot of people who are expecting the price of Bitcoin to skyrocket within a year or two after miners see their rewards cut by half.

The previous all-time high, the agency data says, was recorded on April 10.

People are buying more Bitcoin

The same agency has reported that the amount of crypto wallets holding more than one BTC has risen to a new all-time high. Now the ATH totals 803,335.000.

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Users withdrawing their BTC from exchanges

Glassnode also shares data about the amount of Bitcoin stored on crypto exchanges. The popular saying goes – ‘not your keys – not your Bitcoin’. It seems that ahead of the halving, more people are following this advice now.

As per the data shared by Glassnode, BTC balances on exchanges have hit a new low in half-a-year - 2,231,259.713 BTC. A similar value on April 5 was a little higher - 2,236,484.277 BTC.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.