Share this article
Bitcoin Long-Term Holders Control 75% of Circulating Supply: Glassnode
The balance kept in addresses that hold coins for at least 155 days has increased by $1.87 billion this month.
Updated Jul 24, 2023, 10:06 a.m. Published Jul 24, 2023, 10:05 a.m.
Long-term bitcoin holders, or addresses that hold coins for at least 155 days, now control a record three-fourths of the cryptocurrency's circulating supply.
- Data tracked by blockchain analytics firm Glassnode show the balance held in these wallets has increased by 62,882 BTC ($1.83 billion) to a record 14.52 million BTC this month, surpassing the previous peak of 14.48 million BTC registered on May 21.
- The new high means holders own 75% of the circulating supply of 19.437 million BTC.
- Circulating supply refers to the total number of coins that are actively available for trade in the market.
- "This suggests HODLing is the preferred market dynamic amongst mature investors," Glassnode tweeted.
- The rate of flow into wallets controlled by illiquid entities, or network participants with little-to-no spending history, also remains strong, suggesting continued accumulation and weakening of sell-side pressures in the market. The number of coins held by these illiquid entities has surged by over 90,000 BTC this month.
Disclaimer: This article was written and edited by CoinDesk journalists with the sole purpose of informing the reader with accurate information. If you click on a link from Glassnode, CoinDesk may earn a commission. For more, see our Ethics Policy.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin’s Deep Correction Sets Stage for December Rebound, Says K33 Research
K33 Research says market fear is outweighing fundamentals as bitcoin nears key levels. December could offer an entry point for bold investors.
What to know:
- K33 Research says bitcoin’s steep correction shows signs of bottoming, with December potentially marking a turning point.
- The firm has argued that the market is overreacting to long-term risks while ignoring near-term signals of strength, like low leverage and solid support levels.
- With likely policy shifts ahead and cautious positioning in futures, K33 sees more upside potential than risk of another major collapse.
Top Stories
