ETH has doubled its value since March, and more than 2 million BTC have not moved in 5 years

BestChange
2 min readApr 7, 2020

ETH has doubled its value since March

On March 13, the cryptocurrency price set a local minimum at around $86, and today has strengthened to $177. During the day, Ethereum added 13.50% in value.

At the moment, all crypto assets from the TOP-20 are in the green zone: Litecoin (9.50%), Stellar (7.98%) and XRP (7.50%) added the most in value.

According to Into The Block, 63% of ETH owners suffer losses today, 23% have profit, and 13% bought cryptocurrency at current prices.

More than 2 million bitcoins have not moved in 5 years

Coinmetrics specialists estimated that 2.3 million BTC were permanently lost or are in the hands of long-term investors — the coins have not moved in 5 years.

Thus, the real offer of Bitcoin in the market is not 18.3 million BTC, but 16 million. With Bitcoin Cash, the situation is even more serious: since the hard fork in 2017, 6 million BCH have never moved. This reduces the amount of the circulating cryptocurrency by almost a third: from 18.4 to 12.4 million BCH.

Bitcoin hashrate increased by 13%

As the May halving of mining complexity approaches, miners return to the Bitcoin network.

On March 8, the historical hashrate maximum was set at 123 EH/s, after which, over two weeks, the figure fell to a record 94 EH/s. Today, the computing power of the network exceeds 106 EH/s — since March 22, it has grown by 13%, according to blockchain.com.

This is happening against the backdrop of bitcoin price growth: over the past two weeks, it has risen in price by 27% and is now trading around $7,400 mark.

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