On August 28th, CryptoQuant analyst Amr Taha wrote: "For the first time, the realized market cap of long-term holders exceeded $10 billion." This means that the group spent a total of $10 billion to buy BTC, which takes into account the price of the last sale of each BTC.
Crypto analytics firm Bitbo said realised market capitalisations "are often compared to regular market capitalisations to understand the overall market atmosphere". Long-term holders are known to refer to addresses that have held the currency for more than 155 days. Once held for more than 155 days, Taha explained, these holders "are much less likely to sell, meaning they are less likely to sell positions during short-term market volatility".
CryptoQuant Analyst: BTC Long-Term Holders Have Realized Market Cap Beyond $10 billion for the First Time
2024-08-28 03:37:59
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