Bitcoin’s (BTC) “strongest hands” are eating out of its non-exchange supply aggressively. Their domination prints a new historic high, on-chain data says.
According to data by leading on-chain analytics tool Glassnode, long-term holders of flagship cryptocurrency Bitcoin (BTC) have reached a new record in terms of “sovereign supply.”
“Sovereign supply” is an on-chain metric introduced by the lead analyst of Glassnode, a crypto expert and podcaster who goes by _Checkmatey_ on Twitter.
It refers to the total supply of Bitcoins (BTC) that are stored out of centralized exchanges. In Q4, 2021, long-term holders are responsible for almost 81% of BTC’s sovereign supply.
