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Only 1 in 4 Bitcoins Moved Between Addresses in Past Six Months

  • About 40% of crypto tokens don’t move during market rallies
  • Measure shows ‘true liquidity’ rather than trading volume
Bitcoins That Moved in the Last Six Months
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While volatility is back in global financial markets, only about one in four Bitcoins that weren’t freshly mined moved between the anonymous online addresses holding them in the last six months.

That’s a huge change from late 2017, when about half of all such Bitcoins were active, according to data compiled for Bloomberg News by researcher Coin Metrics. Bitcoin hadn’t hit such low levels of activity since 2015, before the massive influx of investors that flocked to the cryptocurrency during its record price run-up late last year, Coin Metrics said.