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Wednesday, Jun 29, 2022
Outlook.com
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76% Bitcoin Circulating Supply Is Currently Illiquid Says Report, BTC Price Rises

The majority of Bitcoin circulating supply is illiquid, finds a report. Meanwhile, global crypto-themed funds recorded net inflows of $9.3 billion during 2021, while BTC's price was up by 0.14 per cent and Dogecoin was down 1.17 per cent, according to Coinmarketcap.

76% Bitcoin Circulating Supply Is Currently Illiquid Says Report, BTC Price Rises
76% Bitcoin Circulating Supply Is Currently Illiquid Says Report, BTC Price Rises
outlookindia.com
2022-01-05T19:27:26+05:30

A recent report by analytics provider Glassnode finds that 76 per cent of Bitcoin's circulating supply is currently illiquid, which means it is moved into wallets with no history of spending. "We can see that over the final months of 2021, even as prices corrected, there has been an acceleration of coins from liquid into illiquid wallets," says the report. 

The global crypto market capitalisation of cryptocurrencies crossed $2.25 trillion and increased by 0.54 per cent over the last day. The price of Bitcoin (BTC) was up by 0.14 per cent and was trading at $46,774.10 in the last 24 hours. Bitcoin dominance in the global crypto market was 39.41 per cent, down by 0.06 per cent in the last 24 hours. 

 Ethereum's (ETH) price fell by 0.06 per cent in the last 24 hours, and it was trading at $3,814.09. Binance Coin (BNB) was in the red, down by 0.28 per cent; it was trading at $512.96. Among other major coins, Solana (SOL) fell by 0.79 per cent to $169.73, while Cardano (ADA) was up by 0.31 per cent to $1.34. 

 Meme Coins  

 All major meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), Dogelon Mars (ELON), and Samoyedcoin (SAMO) witnessed a fall in the last 24 hours.  

  On December 5, 2022, Dogecoin's price was $0.1694, down by 1.17 per cent in the last 24 hours. Rival Shiba Inu was down by 1.50 per cent and was trading at $0.00003269, Dogelon Mars (ELON) was down by 2.70 per cent and was trading at $0.000001527, while Samoyedcoin (SAMO) was trading at $0.03837 and recorded a fall of 0.94 per cent. 

 Top Gainers and Losers 

 ShunaInuverse(SHUNAV) became the biggest gainer, recording a rise of 816.07 per cent; it was trading at $0.0000001631 at 5 pm. On the other hand, ERC20(ERC20) witnessed maximum loss, falling 99.08 per cent; it was trading at $0.0001514.  

 Latest Update  

 Bruce Lee, a Hong Kong and American martial artist, film star, and philosopher, has also stepped into the world of NFT. On January 8, 2022, the Bruce Lee Family Company and the NFT protocol Ethernity, will launch Lee’s first NFT collection. Lee’s NFT compilation aims to “commemorate the life and legacy of the martial arts pioneer, philosopher, and global action film star,” Bitcoin news quoted Ethernity’s press statement. 

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