The most recent development in the crypto world is that multiple indicators by Glassnode show that Bitcoin (BTC) is currently in a period of accumulation. Accordingly, multiple key metrics have achieved all-time highs signaling an increase in investor interest and long-term holding. The metric that measures the percentage of total Bitcoin supply that hasn't been moved in at least five years is of particular note, achieving an ATH of 28.513% implying that more than a quarter of all circulated Bitcoin have been held for over ten years. Evidently, investors have developed increased confidence in Bitcoin’s future growth and have held onto their assets for the long haul.

Another noteworthy ATH is of the number of unique wallet addresses carrying a minimum of 0.01 Bitcoin at 11,784,039. This has been taken as an indication of more small-scale investors choosing to join the party, which could yield stability to the Bitcoin ecosystem. Similarly, the number of unique wallet addresses carrying at least one Bitcoin has also reached a record high at 993,224 demonstrating a rising interest in digital currency investments which can potentially drive prices further up in the long run.

Moreover, the number of non-zero addresses has also achieved a new high of 45,506,505, implying a wider adoption and usage of Bitcoin. The more people make use of Bitcoin for transactions, the more the digital currency’s network effect and value proposition may be reinforced. Lastly, an exchange netflow reading of -$26.2 million indicates investors are favoring personal wallets or cold storage over trading venues, and is often taken as a sign that accumulation and long-term commitment to the asset is being orchestrated.

Collectively, these on-chain data points reflect positively on the current state of Bitcoin and its future prospects thanks to the increasing investor confidence, increasing adoption and increasing commitment from long-term holders. The steps taken today could set the stage for further growth and expansion of the cryptocurrency, and offer promising opportunities for stakeholders to capitalize on in the future.



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