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Bitcoin will start being used more often. What will change?

About 32% of the current cryptocurrency offering is held on personal wallets, after long-term investors sold approximately $24 billion of bitcoin to new speculators between December 2017 and April 2018. Last year, this number was at the level of 26%.

According to the results of the Chainalysis study, the number of bitcoins on active wallets has increased to 4.8 million or 32% of the current cryptocurrency offering, CoinDesk reports. At the end of last year, about 3.8 million BTC or 26% of all the coins were in the hands of individuals.

A Chainalysis economist Philip Gradwell noted that the liquidity of cryptocurrency is growing, and there are more people who are holding crypto personally. He stressed that the first obstacle in the form of the distribution of digital money was overcome, and now people are ready to spend their coins as soon as they have such an opportunity.

At the same time, more than 6.3 million bitcoins are kept on wallets whose activity has not been observed for more than a year. One user can own several e-wallets, therefore it is impossible to accurately calculate the number of people who can pay with digital money, financial analysts from FXOpen company noted.

News has also stopped influencing the value of the cryptocurrency, a Chainalysis expert Kimberly Grauer said last year. She added that over time, the ratio of funds on investment and settlement wallets is stabilizing, and this will be an indicator of the market growth, and volatility will continue to decline.

The company also came to a conclusion that the number of users is growing faster than the number of speculators, since the volume of bitcoins on the addresses of various companies (e.g. trading platforms) grew by 93K, while on personal wallets - by 1 million.

Earlier, the analytical company Diar published a report, which revealed the trading volume of bitcoin has decreased by 83% since January. Also, the experts found that the number of transactions in the Bitcoin network dropped to a two-year low.


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