Bitcoin's supply last active less than a month ago, a subtle but crucial market indicator, has hit an 8-year low, suggesting a decrease in day-to-day trading activity. This could indicate traders shifting from active transactions to holding coins, but what does this mean for the market's overall stability or potential stagnation? Interestingly, this trend witnessed a stark anomaly during the FTX collapse of November 2022, when 'hot coins' surged amidst a significant price downturn... How did this unusual activity impact the market sentiment? Find out more in the full article...
Bitcoin’s most active supply hits 8-year low Bitcoin’s most active supply hits 8-year low
Bitcoin’s supply dynamics are helpful when analyzing the market, as they provide a window into the trading behavior of its vast user base.
3 min read
Updated: Aug. 24, 2023 at 10:57 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
FTX
FTX is a defunct cryptocurrency exchange, currently in bankruptcy proceedings, that was founded by Sam Bankman-Fried and Zixiao “Gary” Wang in May 2019.