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Javeria
Mar 4, 2020
by Javeria

Up To 42% Of All BTC Has Not Moved Since 2017

BTC
42% of Bitcoin has not moved on-chain since 2017, which is considered as the highest concentration in the two years.

Bitcoin UTXO Not Moved In 2 Years

A UTXO (Bitcoin Unspent Transaction Outputs) is created whenever block rewards are sent to a miner. UTXO becomes an input for the user receiving BTC whenever a Bitcoin is paid.

In simple words, every transaction consists of spent and unspent BTCs, and the spent BTC is called inputs, whereas the unspent BTC is called UTXO. A spent UTXO becomes an input for the person who receives it, and the input becomes the UTXO to spent.

By analysing UTXO, Analysts estimate the amount of Bitcoin being held by the investors. The longer, the UTXO hasn’t been used to make a transaction, the longer is the chances of it being a long-term saving.

As of March 1st, about 42% of all BTC has not been moved on-chain (i.e. transacted) for at least two years.

The amount of BTC untouched in more than two years has not eclipsed 42% since July, 2017.

Read more in this week’s State of the Network:https://t.co/w0HtMWyw57 pic.twitter.com/wRrZkkCRJw

According to the recent valuation report published by Coinmetric, 42% of Bitcoin UTXO have not been used to make a transaction since 1 March. It is the highest since June 2017 which indicates the high chances of Bitcoin having an epic tear towards a new all-time high after the halving this year.

4 Million Bitcoin Wasted Due To Lost Private Keys

HODL Waves are often called Bitcoin Age Days (BADs) for example if the UTXO is not spent for 20 days, it has 20 BADs, and then if the UTXO is spent on the 20th day, the 20 BADs would be destroyed.

The oldest BTC UTXOs are not moved in 5 years which are considered as the Hodl stashes of the first people (Bitcoin OGs) and other early adopters who mined Bitcoin.

The following also helps in estimating the coins lost, which was a common occurrence in the early days of bitcoin as people lose access to their private keys. According to the reports by Chainalyis, up to 4 million BTC have been lost permanently.

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    Up To 42% Of All BTC Has Not Moved Since 2017
    Javeria
    Javeria is into the crypto world ever since she heard about it and is pursuing her interest through cryptoknowmics. She is a sensational poet, technical writer and content strategist. Not to mention that she can go crazy when it comes to vampires and Wonder woman.

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