The fact that the leading cryptocurrency Bitcoin has moved up and down since the middle of the month is bothering investors. Despite the volatile movements in the market, the fact that most of the BTC supply did not move from its place caused questions in the minds.
Blockchain analytics firm Glassnode recently released important on-chain data on Bitcoin. According to the Ancient Supply metric, 22 percent (4.25 million) of the current BTC supply (19.3 million) has not moved anywhere in the past 7 years.
The interesting thing about this data is that 356,000 of these ancient Bitcoins have never been traded since the beginning of the blockchain industry.
The market value of the supply, which is described as "ancient" according to the current BTC price, is around 113 billion dollars.
Bitcoin Entry to Exchanges Dominates
Another graphic shared by Glassnode indicates that the selling pressure may continue in the coming days.
According to the Net Transfer Volume metric, the number of BTC entering the exchanges in recent days is higher than the exit transactions. Cryptocurrencies moving to exchanges are often interpreted as being sent for sale.
