Over $124,700,000,000 worth of Bitcoin (BTC) is now old, according to analytics firm Glassnode

Nearly $125 billion worth of Bitcoin (BTC) is now considered “old” or untouched for at least seven years, according to top blockchain analytics firm Glassnode.

Glassnode says that in Bitcoin’s entire history, only 8.3% of all ancient coins have ever been issued.

Of the BTC that remain stale, Glassnode says they may be dormant or completely lost.

“Since the introduction of Bitcoin, only 4.25 million coins have reached Ancient Supply (7+ years) status.

Remarkably, only 356,000 ancient coins have been issued, representing 8.3% of the total ancient supply ever, while 3.9 million (91.7%) coins are currently dormant or lost.

The analytics company also looks at the supply per whale metric, which looks at the average amount of BTC that whales hold. It finds that the average BTC owned by whales has remained relatively static for several months now, but each whale owns an increasingly smaller percentage of the Bitcoin market cap on average.

“Following the recent surge in price action, the Bitcoin supply per whale has reached equilibrium and remains stable around a value of ~5,350 BTC/whale.

However, despite the stability in supply, the percentage of the market cap owned by the whale cohort (46%) is declining.”

Glassnode also takes note of its Profit/Loss stats offering, which tracks the number of coins that lose and profit. According to the company, the stat shows that market participants’ positions are becoming increasingly green over time, indicating that a sell-off may be on the table.

“With the strong open to 2023, the overall market has moved confidently from a regime of unrealized losses to a regime of unrealized gains, evidenced by the sharp divergence between the supply in profit versus loss. As this happens, the incentive to take profits grows.”