Only one in four bitcoins (excluding recently naminanu) moved between addresses and stored them for the last six months. This writes Bloomberg with reference to data CoinMetrics.
Some CM data in @business today! https://t.co/3yfE1nZVOj
— SpookMetrics.io (@coinmetrics) 31 October 2018.
The last time bitcoin reached such low levels of activity in 2015. However, over the last year has moved about 50% of bitcoins, and at the end of 2017, the figure was 60%.
“It shows that bitcoin is still in recession,” said co-founder CoinMetrics Nick Carter.
Analysts also noted that despite the decline in daily trade volume of nearly 80% compared to the January peak, every day change owners about $4 billion in bitcoins.
As stated by the representative of the investment company DA Davidson & Co Gil Luria, this indicates a lack of liquidity.
“It also means that an investor can liquidate his entire position over one trading day,” he said.
The study also showed that 40% of all bitcoins are not traded on the market, and 25 to 35% coins active in the period of bullish rally. In periods of falling prices of liquid 30% of bitcoins, the analyst added.
In a recent study CoinMetrics States that the performance of the first cryptocurrency is not subject to seasonality.
Meanwhile, a study conducted by the center shows that more than 55% of all bitcoins are in the wallet balance of more than 200 BTC (almost $1.3 million).