On-chain data examined by blockchain analytics firm IntoTheBlock has revealed that roughly 29% of all bitcoins (BTC) in circulation have remained unmoved for more than five years.
In a Monday tweet, analysts at the firm said a large part of the unmoved assets might be lost coins.
Ever wondered how many Bitcoins are lost forever? Our data shows that 29% of $BTC hasn’t moved in over 5 years. It’s possible that a large part of this concerns lost coins. #Bitcoin
— IntoTheBlock (@intotheblock) July 17, 2023
29% of BTC Lost?
IntoTheBlock’s latest analysis echoes a recent report from crypto exchange Bitfinex, which disclosed that the amount of unmoved BTC has reached a new all-time high, leading to a decrease in the asset’s liquidity.
Bitfinex also reported that approximately 70% of BTC’s circulating supply has remained dormant for at least a year; this is the highest ever recorded since the inception of the leading crypto asset.
While there is no specific reason for the current
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