The active supply of Bitcoin and Ethereum has seen a drastic decrease over the past few years, reaching its lowest level in the meantime.
The movement of Bitcoin supply has dropped to 30% from its high of over 40% in 2017, which surged to the highest of nearly 60% in 2018, according to data from CoinMetrics, retrieved by The Block.
Similarly, for Ethereum, the supply movement has decreased to nearly 40% from its high of over 80% in 2017. Ethereum has seen a remarkable decrease in active supply movement, as it recorded a nearly 50% drop during the period.
It suggests that BTC and ETH holders have stopped moving their holdings significantly over time.
Data further reveals that the current supply levels for both assets are at their lowest, with Ethereum recording a drop of 10% and Bitcoin nearly 4% for the current year.
However, despite a significant drop in supply movement, Bitcoin transactions are continuing to surge towards their all-time high, with a total of 710.4k transactions recorded on November 19.