Bitcoin’s increase in November to test price increases led to over 1% of Bitcoin supply leaving long-term storage.

According to Hodlwave’s Unchained Capital calculation, which measures the time since Bitcoin went on-chain, about 15% of bitcoins that had not been transferred in five and seven years from November 1 were finally transferred to the chain during November.

The share of BTC offers represented by coins that were previously inactive for two to three years also decreased from 12.20% to 11.58% – a relative decrease of about 5% during November, while coins that did not move in during the year, went down. And over two years from 17.87% to 17.13% – a relative decrease of 4%.

However, the number of bitcoins that have remained stable for at least seven years has increased somewhat during the month.

Surprisingly, short-term bitcoin transfers fell in November to November, with the supply share, which ranged from one day to one week, falling from 3.72% at the beginning of the month to 2.94% on 30 November.

The biggest shift took place in November in a random wave of bitcoins from a week to a month, which shows that the share of the bitcoin supply last shifted between seven and 30 days. In November, it increased from 6.28% to 8.20%.

Only 38.5% of the Bitcoin supply has been active in the chain in the last 12 months.

Aggregator for cryptocurrency market data Glassnode has posted another bullish figure, according to which almost 19.6 million bitcoin addresses were active during November.

Thus, November became the second largest number of active wallets in a month in bitcoin history, behind only 21.6 million wallets that were active in December 2017.

November was the largest monthly candlestick in Bitcoin history measured from open to close, with BTC rising 42% from about $ 13,800 to $ 19,700.

Source: CoinTelegraph

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