Quick Take
On Christmas Eve, a significant amount of older Bitcoins reentered circulation on exchanges, with the revived supply reaching significant levels.
This revived supply refers to the total amount of coins (valued in USD) that returned to circulation after lying dormant for three to five years.
Approximately 9,000 Bitcoins, equivalent to the fourth-highest volume this year, were dispatched to exchanges.
Simultaneously, the five-year revived supply saw the highest volume of coins sent to exchanges, about 8,000 Bitcoins. These two amounts equate to roughly $750 million transferred to exchanges.
Interestingly, previous transfers from these cohorts throughout the year do not appear to correlate with price fluctuations. However, most of these transactions occurred in the fourth quarter, presumably as a strategy to secure year-end profits.
The post Old Bitcoin stashes wake up for Christmas, $750 million moved to exchanges appeared first on CryptoSlate.
