Bitcoin On-chain Data Suggests 11-Year Old Coins Worth $20M Behind The Drop - BitcoinEthereumNews.com
Bitcoinबिटकॉइन ऑन-चेन डेटा ड्रॉप के पीछे $ 11M मूल्य के 20-वर्षीय पुराने सिक्के का सुझाव देता है03 / 10 / 2022बिटकॉइन एथेरियम समाचार On-chain data suggests that dumping from 11-year old coins worth $20 million may be behind the recent Bitcoin price drop. 11-Year Old Bitcoin Moved Shortly Before The Drop below $40k As pointed out by an analyst in a CryptoQuant post, a large amount of dormant coins since eleven years ago seems to have moved a bit before todays drop below the $40k level. The relevant indicator here is the “coin days destroyed” (CDD) metric. “Coin days” are defined as the number of days that a Bitcoin remains unspent for. When 1 BTC remains still for one day, it accumulates 1 coin day. Similarly, 0.5 BTC would accumulate 1 coin day only after it hasnt moved for two days. Once these coins are spent or transferred, the coin days are said to be “destroyed” as the number of them reset back to zero. The number of such days destroyed is what the CDD indicator measures. When the metric shows a large spike in its value, it means a large amount of dormant coins have just been moved. This can indicate dumping from long-term holders, a