It is always intriguing to keep tabs on the dormant cryptocurrency supply. More specifically, many coins will not move for months or even years. For example, Bitcoin hit a new all-time high for supply last active over ten years ago, while Ethereans send fewer ETH to exchanges again. 

Long-term Supply Last Active Rises Again

Bitcoin enthusiasts will be familiar with why a significant part of the total BTC supply is in a dormant state. The supply last active ten years ago or longer includes the coins mined by Satoshi Nakamoto, among others. As Satoshi never intended these coins to be moved again, they will always contribute to this rather peculiar metric.

However, that supply last active ten years ago also includes many coins that initial miners lost. Numerous stories exist to people mining BTC in the early days, throwing out a hard drive, or getting rid of the computer storing the wallet. It is a regrettable development, although it is also to be expected somewhat. Bitcoin did not have any monetary value for years, making it seem like that would not change. 


Source: Glassnode

Even so, there may be some long-term BTC investors who are not satisfied with the current prices. Even before exchanges started popping up, users could buy, sell, and trade BTC through different means. Some of that supply may never be used again, although it is too early to draw any conclusions on that front. Even so, the overall supply last active ten years ago is still climbing and now represents over 2.345190 million BTC. 

As time progresses, the number may continue to climb. Every year that Bitcoin exists can free up another BTC batch to be included in this metric. Holding Bitcoin for ten yar for longer seems like an eternity, although many people will wish they had done exactly that. However, it is not too late to explore this option, as Bitcoin is likely to keep trending higher over the coming decades.

What Is Happening With Ethereum?

Even though Ethereum has not been around for that long yet, the currency sometimes shows intriguing similarities with Bitcoin. However, it is often better to look at the short-term implications of network activity, such as funds sent to exchanges. The supply last active x years ago is often less relevant to Ethereum, even though things have changed slightly since the introduction of burning network fees. 

Source: Glassnode

Per Glassnode, the number of addresses sending to exchanges is dipping again. That is a positive sign for Ethereum, although a one-month low is not too spectacular either. A supply shortage will not occur anytime soon unless massive amounts of liquidity are permanently removed from exchanges. It would be interesting to see how many ETH remain unmoved once Ethereum is old enough to trigger a supply last active 10 years ago metric.