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Bitcoin’s price as of press time is $22,230 after a 2.9% expand over the last 24 hours from $21,620.
The fee increase comes just as the seven-day shifting common mean on-chain transaction measurement reached a five-year high of $1,145, in accordance to Glassnode data.
The average fee of on-chain transactions was once drastically heightened by way of a number of whale transactions, some really worth over $200 million sent this week.
One such transaction moved over $304 million from multiple addresses to one unknown wallet at once on Feb. eleven Another appropriate example is a Feb. 8 transaction moving $206 million from one unknown pockets to another.
Long time period bitcoin holders are additionally increasingly more hoarding up coins, with the amount of bitcoin that has now not been moved for at least 10 years reaching a new all-time excessive of 2,634,631 BTC earlier today, in accordance to Glassnode data.
The same records supply additionally reveals that the percent of bitcoin’s not moved for at least two years has just reached a new all-time high of 49.863% — which means that nearly half of of all BTC has been held onto for at least two years.
The findings comply with a recent report that Bitcoin non-zero pockets addresses hit forty four million after the launch of Bitcoin Ordinals, which is an all-time high.