Network Sunday analysis firm Glassnode says the increase in the number of Million-Dollar bitcoin transactions is a sign of increased corporate participation.
Glassnode shows that since September 2020, the number of bitcoin (BTC) transactions worth more than $ 1 million has risen from almost a third to more than two-thirds of the total value of the transferred BTC.
“Since September 2020, the share of these big deals has risen from 30% of the total transfer value to 70%.”
Smaller transactions fell by more than two-thirds to about a third of the total transfer value, according to glassnode.
“The volume of deals under $ 1 million has fallen from 70% to about 30% -40% dominance.”
The network Sunday analysis company says the growing dominance of high-value transactions shows that “a new era of corporate and high net capital has passed through the bitcoin network since 2020.”
Glassnode also notes that the total supply of bitcoin owned by long-term owners (LTH) recently reached a record high of 82.68% as the supply of short-term owners (STH) declined. The analyst defines LTH-owned coins as coins that are at least 155 days old and STH-owned coins that are less than 155 days old.
The network Sunday analysis company also says there are “major supply disruptions” when sth’s supply rate reaches 20%. According to glassnode, sth’s supply ratio is now 25%.
Glassnode estimates that the fish supply ratio needed to raise prices could be reached by mid-September.
“While supply disruptions based on the sth supply ratio have not yet reached 20%, there are a number of indicators and trends in play that suggest it could happen in mid-September.”
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