- Newbie crypto holders are selling their coins at a loss.
- However, a Glassnode report showed that veterans are hodling.
- The coin dump is in response to the current crypto market slump.
The recent crypto market slump has triggered newbies into panic selling their coins at a loss. In comparison, crypto veterans remain unphased and committed to hold.
The differing responses were reported by Glassnode, an on-chain aggregate analytics provider. Glassnode noted,
“The total count of addresses holding a non-zero BTC balance has also pulled back by -2.8% from the recent all-time high of 38.7M addresses. A total of 1.1M addresses have spent all coins they held during this correction, again providing evidence that panic selling is currently underway.”
In addition, the report showed that the on-chain aSOPR and STH-SOPR levels fell below 1.0 during the current slump. In particular, STH-SOPR measures the profit mar...
This article was first published on coinquora.com