According to the report prepared by Chainalysis, more than 60 percent of Bitcoins excavated so far are held for HODL purposes.

With a total supply of 21 million, 18.6 million of Bitcoin has already been excavated. But according to the research of Chainalysis, more than 60 percent of these Bitcoins are passively waiting on user addresses. Researchers define the owners of these wallets as "long-term investors". But this account does not include addresses that have not been used for more than five years. Researchers consider Bitcoins that have not been used in any way for more than five years as “lost Bitcoins”.

The total amount of Bitcoin actively used in the market is thought to be around 3.5 million. According to the researches of Chainalysis, this 3.5 million Bitcoin determines the price of Bitcoin actively bought and sold in the market.

How Many Traders Are There?

Research shows that 3.5 million Bitcoin is under the control of several hundred thousand people. According to the published report, the number of investors who buy and sell Bitcoin weekly is around 340 thousand.

Chainalysis defines investors who are traded in exchanges with a value less than $ 10,000 as individual investors. According to this account, 96% of the weekly trading transactions are individual investors. However, this does not mean that individual investors control the market.

96 percent of the transactions in the exchanges are made by individual investors, but the institutional or professional investors move the market. According to the researches of Chainalysis, 85 percent of the money (dollar-based) sent to the stock exchanges is sent by institutional investors. However, these investors do not trade as often as individual investors. It is thought that these investors make an average of 39 thousand transactions per week.