50% of the current supply has been last active two years ago. Two years ago we were still in a bull run, meaning that 50% of the current supply held through the whole brutal bear market.

It is always very interesting to look at on-chain metrics as those can play a significant role in measuring the sentiment of us all and especially also look back at the history of us all. One very interesting metric here are the “Supply last active“ bands, which show when what percentage of the circulating supply has been last moved. This shows the amount of long-term holders.

But also this shows indirectly through what many of those long-term holders went through and still endured to survive. Right now there is a prime example of that, we just hit 50% on our 2 year Supply Last Active bands:

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Chart from glassnode

Now when we turn back the clock two year, we will be in early 2021 where we were still in a bull market and at roughly a $56k price. This also shows that 50% of the circulating supply had long-term holders that went through the rest of the euphoric bull market and then faced a 75% drawdown from ATH but still remained steady.

Those long-term holders literally faced everything from Chinas mining ban, to Future ETFs approved to LUNA and FTX implosion. All of that to still be here.

I believe that many here right now are also part of those long-term holders, even I am part of that very group. This just happens to show how many people were capable of holding through one of the most brutal periods in Bitcoins history. That really deserved a loud clap for all of them!????