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Jordan Lyanchev



Articles by Jordan Lyanchev

Bakkt’s Stocks Surged 270% Following Partnerships With Mastercard and Fiserv

23 hours ago

After outlining two new partners in its attempts to enhance cryptocurrency mass adoption, Bakkt’s stock prices went through the roof yesterday. This comes just a few weeks after ICE’s Bitcoin service arm became a publicly traded firm.
CryptoPotato reported yesterday Bakkt’s collaboration with Mastercard. The latter plans to integrate digital assets into many of its products and tapped Bakkt to do so.
Shortly after, news broke that ICE’s firm has also partnered with Fiserv – a global provider of payments and financial services tech solutions. The idea was similar to the aforementioned Mastercard partnership – to bring cryptocurrencies to a larger contingent of customers.
Additionally, Fiserv promised that Bakkt will eventually be integrated into its Carat omnichannel

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The Wolf of Wall Street Joined the NFT Craze, Vowed Never to Leave it

1 day ago

The cryptocurrency space has seen numerous prominent individuals who went from criticizing it to joining it years later. Jordan Belfort, who used to bash bitcoin but later predicted it will tap $100,000, is now a keen supporter of the non-fungible token industry.
NFTs have garnered the attention of numerous celebrities outside of the cryptocurrency space in the past year.
Individuals like Tom Brady, Steph Curry, Eminem, and Paris Hilton, to giant organizations like Marvel Studios, DC, New York Knicks, and more, have all hopped on the bandwagon in some form.
The latest to dip his toes is the so-called Wolf of Wall Street, Jordan Belfort. He expressed his astonishment at the space in a recent tweet and vowed never to leave it.

WOW! I LOVE NFT TWITTER! AND NOW THAT I’M HERE,

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Weekend Status Quo: Bitcoin Stable Amid $60K, ETH Maintains $4K (Market Watch)

3 days ago

Bitcoin dipped below $60,000 once again in the past 24 hours but has recovered and currently stands above it. Most altcoins are also untypically calm this weekend, with ETH sitting north of $4,000. Shiba Inu, though, charted a new all-time high hours ago.
Bitcoin Remains Above $60K
All crypto eyes in the past few weeks were on the launch of the first-ever Bitcoin Futures ETF in the United States. After years of waiting, the Securities and Exchange Commission finally allowed such a product to go live, which happened on Tuesday with record trading volumes.
The anticipation for such an event caused a massive price surge for the underlying asset. BTC went from $57,000 to above $60,000 in days and kept climbing higher. This culminated on Wednesday when it breached the previous

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Bitcoin Dipped to $60K Losing $7K Since Tuesday’s ATH (Market Watch)

4 days ago

Following the past several days of surging higher and higher, BTC corrected hard in the past 24 hours and even dipped below $60,000 briefly. Most altcoins followed suit, and the entire market cap lost more than $150 billion since its peak earlier this week.
Bitcoin Lost $7K in Days
The main focus in the cryptocurrency space in the past week or so was on the first-ever Bitcoin Futures ETF going live in the United States on Tuesday. The euphoria for such a long-anticipated product propelled a massive price surge for the digital asset, which broke above its April ATH and charted a new one a day later at $67,000.
However, it failed to remain there, and the bears started to push it south gradually. As reported yesterday, BTC dropped to $63,000, but the correction was far from

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BinanceUS Blamed the 87% Bitcoin Flash Crash on Algorithm Bug

5 days ago

The US branch of the leading cryptocurrency exchange explained that yesterday’s severe flash crash that saw BTC’s price dumping from $65,000 to $8,700 in mere seconds was because of a bug in the trading algorithm.
CryptoPotato reported yesterday when the price of bitcoin nosedived from its near all-time high level to below $10,000 on Binance US.
Other trading platforms, such as Kraken and FTX, also saw flash crashes as BTC dropped more on those two exchanges than it did in reality.
Although these flash crash events do occur from time to time, an 87% drop (the one on Binance US) is something that caught the attention of the public.
The company decided to explain what happened in a letter shared with Bloomberg. It reads that the problem came from an algorithm bug.

“One of

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Bitcoin Corrects Below April’s Previous ATH, Solana Spikes Above $200 After 35% Weekly (Market Watch)

5 days ago

The volatile roller-coaster returned to the crypto markets again after bitcoin’s ATH, and the asset dropped by more than $5,000 a day later. While most altcoins have stalled on a 24-hour scale, Solana has gone on a tear once more by breaking above $200.
Bitcoin Lost $5K
The news that the US will finally have its own Bitcoin ETF, even if it’s a Futures one, for now, brought significant gains for the primary cryptocurrency. BTC traded below $58,000 last week when the first reports emerged but quickly skyrocketed above $60,000.
It kept climbing further, which culminated on October 20th. Bitcoin broke its April ATH of $65,000 and charted a new one at approximately $67,000.
After this peak, though, the bears came to play and pushed the asset south. The situation worsened

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Houston Firefighter’s Pension Fund Bought $25M Worth of Bitcoin and Ethereum

5 days ago

The Houston Firefighters Relief and Retirement Fund (HFRRF) has hopped on the cryptocurrency bandwagon by making a $25 million investment in BTC and ETH. The allocation became possible through a partnership with New York Digital Investment Group (NYDIG).
The October 21st press release outlined the partnership between the two organizations, reading that NYDIG facilitated the investment through one of its regulated, audited, and insured funds.
It became the first such allocation from a public pension plan in the US. According to Bloomberg, the total investment was worth $25 million. However, the report didn’t specify what portion went into bitcoin and what part in ether.

“We are excited to take this first step forward into the world of digital assets. The investment

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Mt. Gox Creditors Could Receive Billions in BTC as Latest Rehabilitation Plan Gets Approval

6 days ago

The trustee responsible for handling the Mt. Gox hack and the victims’ claims has updated that the rehabilitation plan was approved by the majority of creditors. Consequently, the creditors could receive roughly $9 billion in BTC by the end of the year.
Mt. Gox was once the biggest cryptocurrency exchange responsible for 70% of the transactions in bitcoin’s early days. That all changed after the notorious hack seven years ago when hackers duped 850,000 bitcoins, some of which were later discovered.
Since 2014, when the event took place, company customers have been unable to receive compensation for their losses.
The Rehabilitation Trustee for the defunct exchange recently outlined several rehabilitation plans, which had difficulties reaching a consensus.
However, the

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Bitcoin Price Flash Crashed 87% to $8200 on Binance US

6 days ago

After yesterday’s new all-time high at $67,000, bitcoin corrected today with a steep decline to below $64,000. On some exchanges, though, the crash was significantly more violent as BTC dropped as low as $54,000 on Kraken and to four digits on Binance.US.
October 20th was a historic day for the primary cryptocurrency as it finally skyrocketed above its previous all-time high and peaked at $67,000. It happened on the wings of the recently approved Bitcoin Futures ETF in the US.
After a brief correction hours later, BTC was closing down on its new record earlier today, when the situation rapidly changed.
In a matter of minutes, bitcoin went from $66,700 to $63,600 on most exchanges (including Bitstamp).
On others, though, such as Kraken and FTX, the price decline was

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Digital Currency Group Authorizes the Purchase of $1 Billion Worth of GBTC Shares

7 days ago

Digital Currency Group, the organization behind the world’s largest cryptocurrency asset manager, has decided to enhance its Bitcoin position by authorizing the acquisition of $1 billion more worth of shares of Grayscale’s Bitcoin Trust.
The press release dated October 20th reads that Digital Currency Group has upped its authorization from $750 million to $1 billion.
This means the company will more than triple its current position, which, as of October 19th, 2021, stands at $388 million worth of shares of GBTC.
The company plans to “use cash on hand” to fund the purchase and will make it on the open market, at management’s discretion, in compliance with Rule 10b-18 under the Securities Exchange Act of 1934.
It’s worth noting, though, that the authorization doesn’t

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First Bitcoin Futures ETF Comes Today: BTC Price Volatility Expected

8 days ago

The talk in the crypto town for the past several days has predominantly been the potential launch of a Bitcoin ETF in the United States. After all, the country’s Securities and Exchange Commission has been reluctant to approve such a product for years, while other nations, like Canada and Brazil, did so earlier this year.
The pressure on the SEC is mounting, and the appointment of Gary Gensler, who previously had experience with blockchain, was regarded as a promising step in the right direction.
Community members and strategists even outside the space started to make optimistic predictions that a Bitcoin ETF could see the light of day by the end of 2021.
And now, just hours away from perhaps the first-ever BTC ETF going live in the States, albeit a futures-backed one,

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Bakkt Goes Public: to Be Listed on New York Stock Exchange

11 days ago

Several months after initially outlining plans to become a publicly-traded firm, Bakkt has announced that the event will take place on Monday – October 18th. Thus, Bakkt will join the likes of Coinbase as a cryptocurrency-related company having its shares traded on giant stock exchanges.
CryptoPotato reported at the start of this year Bakkt’s intentions to go public through a merger with VPC Impact Acquisitions Holdings.
The two parties indeed merged shortly after clearing the way for ICE’s Bitcoin futures platform to have its shares traded on a US exchange with an estimated enterprise valuation of $2.1 billion.
The company published a press release earlier this week confirming that it has completed all negotiations.
Bakkt’s shares of Class A common stock and warrants will

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Bitcoin Tapped $63K Amid Latest ETF Developments: BTC Dominance at 3-Month High

11 days ago

The latest developments in the US claiming that a Bitcoin ETF might be just around the corner pushed the cryptocurrency to $63,000 hours ago. Most altcoins have failed to follow their leader north, and the BTC dominance reached a near three-month high.
Bitcoin Came $2K Away from ATH
On October 13th – just three days ago – the primary digital asset had dipped below $55,000 after getting rejected at the $58,000 level. The situation quickly changed in the following days, and BTC headed north towards new multi-month highs.
At first, bitcoin neared $58,000 once more and, after a few more attempts, managed to overcome it decisively. This came amid reports that a Bitcoin Futures ETF could launch in the US as early as next week.
While the Securities and Exchange Commission is yet

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Third-Largest Bitcoin Whale Sold at $56K and Bought Back at $57K a Day Later

13 days ago

One of the largest Bitcoin whales, who has been quite active lately, sold 1,500 coins at $56,200 yesterday. Interestingly, they bought back a third of that quantity a day later at a higher price.
As outlined by CryptoQuant’s analyst going by the Twitter handle VentureFounder, the unknown BTC whale sold a large chunk of 1,500 bitcoins on October 3rd at $56,200 per coin. In USD terms, this substantial amount totaled $84,300,000.
This coincided with their recent strategy to dispose of some of the BTC holdings. Their address shows several sales in a row, including a massive one for 3,000 BTC on October 5th.
Previously, the whale had accumulated millions of dollars worth of the primary cryptocurrency from early September. In fact, their last sale evident in this address before

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Over 85% of Circulating Bitcoin Has Not Moved in Three Months or More: Analysis

14 days ago

The recent price surge from bitcoin has not deterred long-term holders from keeping their portions. Recent data from Glassnode informed that the percentage of BTC supply that has been held for at least three months had reached a record of over 85%.
BTC Holders Refuse to Sell
Citing data from the blockchain analytics company Glassnode, the Chinese journalist Colin Wu outlined the behavior of bitcoin holders and their most recent attitude towards the asset.
As the graph below demonstrates, the percentage of holders that have not moved their bitcoins in more than ten years stands at 12.3%. Those tokens are considered dormant because of it.
Similarly, those who haven’t transferred any BTC holdings between two and three years and three and five years are 10% and 12.26%,

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Cambridge Data: The US Has Become the Leader for Bitcoin Hash Rate

14 days ago

The consequences of the Chinese ban on anything crypto, including mining, have led to a massive flippening as the USA has surpassed China in terms of Bitcoin hash rate share, showed recent data.
The Demise of the Chinese Hash Rate Empire
Although bitcoin and the rest of the cryptocurrency industry have been banned within China’s borders for almost as long as they exist, the country was responsible for the majority of the BTC hash rate for a long time.
In fact, no other nation even came close as the cheaper electricity in China lured miners in. Data from Cambridge University’s mining map exemplifies this dominance. For example, China’s hash rate share was over 75% in late 2019.
As the country was progressing with its internal bans and was successfully ousting miners,

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All Top 30 Altcoins Crashed Against BTC Weekly: Shiba Inu (SHIB) is the Only One Up 80%

15 days ago

Bitcoin has been on a roll since the start of October and the past week in particular. It traded below $50,000 on October 5th but reclaimed that coveted line in the following days and kept climbing upwards.
It charted a multi-month high just shy of $58,000 hours ago, meaning a 17% increase in the span of a week. Usually, when BTC goes up, most alternative coins tend to follow suit at least against the dollar.
This doesn’t seem to be the case now as the majority have lost ground not only against the USD but against their leader too. There’s only one exception from the top-30 largest digital assets – the high-flyer Shiba Inu.
SHIB’s Gains Against BTC
It’s safe to say that Shiba Inu and its native token have garnered the attention of the cryptocurrency community lately. Among

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Regulation First: Elrond Aims to Acquire an e-Money Licensed Company in Romania

15 days ago

Although the regulatory approval is still pending, the popular blockchain project Elrond Network has already agreed to purchase Capital Financial Services S.A – the company licensed to operate an Electronic Money Institution (EMI) in the Euro Economic Area.
The press release shared with CryptoPotato explained that Capital Financial Services S.A. is a principal member of two of the largest global financial corporations – Visa and Mastercard.
This allows the firm to provide payment processing services to over 300 merchants, including the largest Romanian airliner – Blue Air.
In order for the acquisition to become official, Romania’s National Bank has to greenlight the move. If it does, Elrond said it would be a step of “strategic importance” for the blockchain project as it

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Despite the Recent Surge, Retail FOMO Absent From Bitcoin’s Current Bull Run

16 days ago

Although the price of bitcoin has increased by more than 35% in the past two weeks or so, retail investors have yet to return to the scene. Google trends data shows that the number of queries on the search engine is still a long way away from the previous heights.
No Retail Hype Yet: Google Trends
On September 30th, BTC dropped below $41,000 for the third time that week. Now, less than two weeks later, BTC trades above $56,000 after marking a new five-month high at $57,000 earlier today.
Such impressive price increases in relatively short time periods typically attract the masses. This doesn’t seem to be the case, now, at least according to data from Google Trends.
The number of “Bitcoin” queries on the world’s largest search engine is still relatively low and has barely

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Bitcoin Skyrockets to 5-Month High: Dominance Soars as Altcoins Lose Value Against BTC (Market Watch)

16 days ago

The price of bitcoin went on another run in the past 24 hours and briefly exceeded $57,000 for the first time in five months. Most alternative coins seem left behind as BTC’s dominance continues to increase.
Bitcoin Touched $57K
It’s safe to say that BTC has returned to its bullish trajectory after it recovered from its sub-$41,000 dips two weeks ago. In the days that followed, the cryptocurrency added a significant chunk of value, broke above $50,000 for the first time in a month, and only kept climbing.
It went above $56,000, which became a new high since the mid-May crisis, but was initially stopped there yesterday. In fact, the bears pushed it down hard as bitcoin fell below $54,500.
However, this drop seemed short-lived. BTC started gaining value once again and went

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Surpassing S&P500, Apple, Google, Gold and Silver: Bitcoin is Up 90% Year to Date

16 days ago

Bitcoin stands at $55,000 today, as of writing these lines. This means it’s about 90% up since the beginning of 2021.
While that’s impressive on its own, what’s even more notable is BTC’s performance compared to other well-known investment tools such as some of the most popular stock market indexes, the world’s largest companies, and precious metals like gold and silver.
BTC vs. all others – YTD 2021. Source: TradingViewS&P500 and Nasdaq Left Behind
The primary cryptocurrency entered 2021 at roughly $28.9k before it shot up to unseen heights in April at $65,000, which became the current all-time high. What followed were a few turbulent months prompted by FUD, initially from Elon Musk and later from China.
After it bottomed below $30,000 in July, BTC resumed its bullish run

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Bitcoin Dominance on the Rise as BTC Eyes $56K (Market Watch)

17 days ago

Following yesterday’s price slide below $54,000, bitcoin has started increasing in value once more and has neared $56,000. Although some altcoins like XRP and DOT have charted notable gains in the past 24 hours, BTC’s dominance has also risen.
Bitcoin Aims at $56K
The primary cryptocurrency exploded above $50,000 on October 5th and hasn’t looked back since. Just the opposite, it has been mainly on the offensive, which resulted in tapping $56,000 a few days ago for the first time in roughly five months.
However, breaking above that level turned out to be more challenging than expected as the bears intercepted the move and pushed BTC south. As a result, bitcoin dipped by a few thousand dollars and went below $54,000.
The situation changed once more in the past 24 hours.

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Bitcoin Consolidates as Shiba Inu (SHIB) Explodes 35% Daily Again (Weekend Watch)

18 days ago

After touching $56,000 for the first time in five months, bitcoin retraced slightly and currently stands around $55,000. Most altcoins continue with indecisive moves in either direction, except for Shiba Inu, which has gone on the offensive once more with a 35% daily surge.
Bitcoin Stalls at $55K
The past week or so showed once more how quickly the landscape could change in the cryptocurrency markets. Bitcoin entered October at around $45,000 after recovering $4,000 in days following the late-September crash to $41,000.
It started to increase in value rapidly and, in just a few days, knocked on the $50,000 door. Although the first attempt was not successful, BTC came back again and, this time, brought it down.
The bulls had more to give and kept pushing the asset north. As

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US SEC Approves an ETF Tracking the Performance of Bitcoin-Investing Companies

19 days ago

Just four months after the application, Volt Equity’s Volt Bitcoin Revolution ETF has received the green light from the US Securities and Exchange Commission. It will provide investors the option to invest in companies with direct exposure to BTC, such as MicroStrategy.
Back in early June this year, the California-based firm Volt Equity filed with the Commission documents to launch a different type of exchange-traded fund with indirect exposure to BTC.
The filing described the organizations included in the ETF as “Bitcoin Revolution Companies” since they have allocated significant portions in the cryptocurrency or are involved in it through developing or mining.
Under “normal circumstances,” the Fund will invest at least 80% of its net assets in domestic and foreign

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Leading Indian Short Video App Chingari Raises $19M to Complete its Solana-Based Token

19 days ago

One of the largest short-videos sharing platforms in India – Chingari – has successfully raised $19 million from investors such as Kraken, Alameda Capital, Galaxy Digital, and more. The company aims to launch its own token, enter the NFT world, and tap into the Solana blockchain.
Chingari Raises $19M
The press release shared with CryptoPotato explained that aside from the aforementioned investors participating in the fund round, other prominent names included Republic Crypto, LD Capital, Solana Capital, Valor Equity Partners, and Blackpine.
The company intends to utilize the substantial amount towards the growth of its existing products and the development of new ones. Chingari saw a massive redesign last year following the TikTok ban in India. Consequently, it managed to

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Binance to Close Down Derivatives Services for South African Users

19 days ago

Binance users based in South Africa will have until January 6th next year to manually close their derivatives positions as the exchange is halting these services. This is the latest action by the world’s leading crypto trading platform in its efforts to comply with local regulators.
As announced earlier on October 8th, Binance has alerted its South African customers that it will cease offering any derivatives services. More precisely, those are trading of futures, options, margin, and leveraged tokens.
Effective immediately, users based in the African nation will not be eligible to open new accounts for those products.
Existing clients will have 90 days to “reduce and close their positions” manually. They will still be able to top-up margin balances to prevent margin calls

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3 Possible Reasons Behind Bitcoin’s Surge towards $56k

20 days ago

After weeks of struggling and rapidly losing value, bitcoin exploded in the past few days and neared $56k – its highest price line since mid-May. Yesterday alone, the cryptocurrency gained more than $5,000 of value in hours.
While the bulls celebrate, it’s worth exploring potential reasons why that might be and could there be more similar developments hiding behind the corner.
Reason 1: Whale Purchases
Being an asset with a maximum supply of just 21,000,000 tokens with a large percentage of the existing ones lost or in the hands of long-term holders, the price of BTC could fluctuate hard whenever the so-called whales make substantial purchases (or sales).
Data presented by CryptoQuant’s CEO – Ki-Young Ju – provides a similar example. The purchase came roughly 24 hours ago

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Paysafe’s Neteller and Skrill Add Solana (SOL) Trading

21 days ago

Two of the largest digital wallet providers, namely Skrill and Neteller, will enable their millions of customers to buy and sell Solana’s native token – SOL. This addition comes amid the blockchain project’s rapid rise in terms of adoption and SOL’s price surge as of late.
SOL on Skrill and Neteller
Aside from allowing customers to interact with SOL, the announcement shared with CryptoPotato explained that both companies will provide direct fiat purchases due to the crypto integration services from Paysafe – the company that operates Neteller and Skrill.
The statement added that the decision has come following the substantial growth of the blockchain project, which has become the home of many DeFi and NFT protocols.
Now, Skrill and Neteller users will be able to manage

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Arab Bank Switzerland Enables Tezos Staking, Trading, and Storing as XTZ Charted New ATH

22 days ago

Arab Bank Switzerland will enable its institutional clients to store, stake, and trade XTZ – the native cryptocurrency of the popular blockchain project Tezos. This announcement comes amid the token’s recent price surge, which led it to a new all-time high.
The press release seen by CryptoPotato reads that the banking organization, founded in 1962, has selected Tezos to develop a new set of “innovative and compliant” on-chain digital financial products.
The private bank will also allow its customers to stake, store, and trade the XTZ token on its institutional-grade platforms.

“Digital assets are a cornerstone of our strategy, requiring strong agility while complying with the highest security standards. Our mission is to bridge tradition and cutting-edge innovation.

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Bullish? Bitcoin Long-Term Holder Supply Shock Ratio Goes to New Highs

23 days ago

The Bitcoin Long-Term Holder Supply Shock Ratio has gone into its highest territory in years, shows on-chain data. Historic comparisons reveal that this could mean that the price of the cryptocurrency could soon head upwards once more.
LTH Supply Shock
Citing data from the analytics company Glassnode, popular crypto strategist Will Clemente recently outlined the significant trend change of long-term holders and their behavior towards the primary cryptocurrency.
This coincides with numerous previous reports claiming that such investors, typically regarded as those who refuse to sell their coins for one year or more, have retained their BTC portions even in times of enhanced volatility.
Bitcoin Long Term Holder Supply Shock Ratio. Source: GlassnodeThe metric – Long-Term

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