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BTC Hodler Net Position Change Hits 1-Month High, Here’s Why It May Be Good for BTC

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Sat, 08/28/2021 - 16:00
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Yuri Molchan
According to the data from Glassnode, the value of index that describes change in LT investor holdings has hit a one-month high, this maybe a positive sign
BTC Hodler Net Position Change Hits 1-Month High, Here’s Why It May Be Good for BTC
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On-chain data analytics company Glassnode has tweeted that the Bitcoin HODLer Net Position Change index has reached a major high of 24,906.171. Meanwhile, the Bitcoin supply last moved over ten years ago, has hit a new all-time high.

Long-term hodlers grabbing more Bitcoin

The on-chain data provider says that this metric is about long term Bitcoin investors (HODLers) and it tracks their position change regarding Bitcoin on a monthly basis. When the metric goes negative, this is indicative of hodlers selling their BTC and withdrawing their profits.

When the net position change of hodlers goes up, this means long term investors are opening new positions in Bitcoin.

Related
Peter Schiff’s Son Has Gone All in on Bitcoin from Gold Since August 2020

New investors coming in, while 10-year wallets keep hodling

Glassnode has shared another tweet recently, which says that the Bitcoin ecosystem is seeing new investors arriving actively as the number of non-zero wallets has surged to a one-month high and now amounts to 38,241,875 addresses.

As per another message from the analytics firm, the amount of Bitcoin last moved more than ten years ago has reached an all-time high of a whopping 2,300,284.993 BTC. 

This amount of Bitcoins is worth as much as $112,360,592,377 at the time of writing, while the leading digital asset is trading at $48,837, as per the chart from CoinMarketCap.

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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.