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On-chain data vendor IntoTheBlock has shared data that may suggest how many BTC coins have been permanently out of circulation by now from the slightly more than 19 million mined Bitcoins.
According to a recently published tweet by this data aggregator, approximately 29% of the circulating BTC have remained dormant over the span of the last five years. The company stresses that it is likely that a big portion of these Bitcoins have been lost for good.
Ever wondered how many Bitcoins are lost forever? Our data shows that 29% of $BTC hasn't moved in over 5 years. It's possible that a large part of this concerns lost coins. #Bitcoin
— IntoTheBlock (@intotheblock) July 17, 2023
It matches the recent tweet of Glassnode about "hodled or lost Bitcoins." The data agency reported recently that this metric shows 7,781,224.168 BTC.
📈 #Bitcoin $BTC Amount of HODLed or Lost Coins just reached a 5-year high of 7,781,224.168 BTC
— glassnode alerts (@glassnodealerts) July 17, 2023
View metric:https://t.co/dJK8rxBVD3 pic.twitter.com/nF9KjaR2jv
On Thursday, July 13, the flagship cryptocurrency Bitcoin surged by around 3.50%, soaring to the $31,641 level on bullish news for the whole crypto industry — Judge Analisa Torres announced that Ripple did not violate U.S. securities law by selling XRP on public crypto trading venues. Unlike that, Ripple's selling XRP to financial institutions was deemed selling securities by the court.
Still, this partial victory drove the XRP price up by more than 70% and pushed the rest of the market way up as well, including Bitcoin.
Many major crypto exchanges that delisted XRP immediately after the start of the Ripple-SEC lawsuit in December 2020 have now relisted it, including Coinbase and Binance US.
However, the following day, the crypto market leader fell by 4.78%, hitting the $30,133 zone. At the time of this writing, Bitcoin is changing hands at $30,092 on the Bitstamp exchange.
Alex Dovbnya
Denys Serhiichuk
Tomiwabold Olajide
