Active Bitcoin (BTC) Supply Hits New High in 6 Months as Hashrate Drops

Active Bitcoin (BTC) Supply Hits New High in 6 Months as Hashrate Drops


Yuri Molchan

Recent data shows that active Bitcoin supply over the past 3-5 years has reached another 6-month high, meanwhile BTC mean hashrate is showing a substantial decrease

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As the clock is ticking and the third Bitcoin mining is getting close, regardless of the COVID-19 pandemic spread, the lockdown and the economic/financial recession in the US and other countries, Bitcoin investors keep watching the changes of various metrics regarding the flagship cryptocurrency.


Glassnode agency offers some fresh data regarding the active Bitcoin supply.


Active BTC supply 3y-5y hits 6-month high


The analytical agency Glassnode reports that holders who have been using their wallets over the last 3-5 years have become more active in moving their BTC stashes over the past half a year. The index of the active Bitcoin 3y-5y supply has hit a new 6-month high and now totals 1,082,755.022.



However, opposite data has arrived for the active Bitcoin supply 5y-7y. Over the past six months, the active BTC supply has come to a low of 1,126,913.863.


“$BTC Active Supply 5y-7y (1d MA) just reached a 6-month low of 1,126,913.863. Previous 6-month low of 1,127,188.373 was observed on 17 April 2020”


Image via Twitter

Mean BTC hashrate shows a decline


Data provided by Glassnode also states that over the last twenty-four hours the mean Bitcoin hashrate has declined by around 11.9 percent.


“$BTC Mean Hash Rate (2d MA) decreased significantly in the last 24 hours. Current value is 108,545,333,896,211,595,264.000 (down 11.9% from 123,170,412,783,523,921,920.000)”


Image via Twitter

 

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