On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Long-term holders are continuing to accumulate BTC while short-term speculators are selling.
According to research by on-chain analytics provider, Glassnode, 95% of the Bitcoin changing hands last was last moved less than three months ago on the blockchain.
Glassnode’s March 15 The Week On-Chain report found that just 5% of spent outputs are more than 90 days old, indicating the vast majority of BTC moving on-chain are “young coins.”
Other data from Glassnode has found that addresses that have been hodling BTC for at least three years have significantly increased their holdings over the past six to 12 months, while short-term holders have been taking profits since the start of 2020.
Glassnode defines “Long Term Holders,” or LTH, as wallets that have held their Bitcoin for more than 155 days, while “Short Term Holders,” or STH, are described as wallets that move BTC on-chain within 155 days or receiving coins.
The report asserts LTH tend to have a greater knowledge of Bitcoin, accumulating BTC in bear markets and offloading some during bull markets. By contrast, STH are likely to either be newer market participants or short-term speculators that frequently move value between exchanges, it added.
At current prices, Glassnode found that 10.85 million BTC, or 58% of Bitcoin’s circulating supply are currently in profit according to when they last moved on-chain, while 5.3 million BTC are currently in profit and held by STH wallets.
Glassnode also noted that LTHs are actually hodling more coins than in previous market cycles.
The analytics provider also identified that the number of active new entities has recently spiked to new all-time highs, indicating many new retail investors have recently entered the space.
https://ift.tt/3lipBUfThe number of new participants in the #Bitcoin network is unprecedented.
— glassnode (@glassnode) March 15, 2021
Over the past weeks, we have seen a large growth of new entities. This is a strong indication that new retail investors have been entering the space.
Chart: https://t.co/3w1LwtUFZV pic.twitter.com/MXNXwimnfZ
Comments
Post a Comment