The active supply of Bitcoin and Ethereum has seen a drastic decrease since past years with it reaching the lowest level in the meantime.
The movement of Bitcoin supply has dropped to 30% from its high of over 40% in 2017, which surged to highest of nearly 60% in 2018, according to data from CoinMetrics – retrieved by The Block.
Similarly for Ethereum, the supply movement has decreased to nearly 40% from its high of over 80% in 2017. Ethereum has seen a remarkable decrease in active supply movement as it records nearly 50% drop during the period.
It suggests that BTC and ETH holders have stopped moving their holding significantly over the time.
Data further reveals that the current supply levels for both assets are at its lowest where Ether recorded a drop of 10% and Bitcoin nearly 4% for the current year.
However, despite a significant drop in supply movement, Bitcoin transactions are continuing to surge towards its all-time high with it recording a total of 710.4k transactions on November 19.
Also read: Bitcoin Maxi Javier Milei Wins Presidential Election in Argentina