Small cryptocurrency holders bought 330,000 bitcoins for the first time in 2 years

Small cryptocurrency holders purchased 330,000 bitcoins for the first time in 2 years. According to Glassnode analysts, short-term cryptocurrency holders have become more active and for the first time in two years are investing more in bitcoin than long-term holders.

As the experts found out, short-term holders (STH — Short-Term Hodlers) began to actively buy cryptocurrency, purchasing 330,000 BTC — for the first time since the collapse of the Terraform Labs ecosystem in May, which caused significant losses to investors after the collapse of its stablecoin TerraUSD (UST) and Terra token (LUNA) — users lost about $ 45 billion. According to analysts, STH will become more active in the bull market, which may start in the near future.

A few days ago, the flagship cryptocurrency rose to $ 25,050, and due to this growth, the price of altcoins also increased. Thus, ethereum reached $ 2030. It also became known about the growth of the Solana (SOL) cryptocurrency, which rose in price by 9.40% in 24 hours. The growth of SOL’s value is driven by investors' individual interest in the digital asset and the general recovery of prices in the cryptocurrency market.

Interestingly, at the end of July, Glassnode experts reported that 80% of bitcoin turnover is in the hands of long-term holders. LTHs are investors who have been holding cryptocurrency for at least 6 months. Long-term holders usually invest in cryptocurrencies during market downturns, expecting to make a profit in the long run. It is LTHs that usually create strong support for the market bottom of bitcoin.