Long-Term Bitcoin Holders Unaffected by Recent SEC Lawsuits against Binance and Coinbase, Glassnode Reports

The US Securities and Exchange Commission’s (SEC) recent lawsuit against Binance and Coinbase is reported to have little or no effect on long-term Bitcoin (BTC) holders. Glassnode Data! According to crypto market analysis provider Glassnode, the percentage of Bitcoin Long Term Holder Supply sent to exchanges remains extremely low at about 0.004%. In Glassnode’s definition, this means long-term holders, those who have held their BTC for over 155 days, are not liquidating their assets through these trading platforms. Glassnode analysis further detailed the limited likelihood of these long-held assets being readily liquidated. Despite widespread expectations that the fear, uncertainty, and doubt (FUD) surrounding Coinbase and Binance would drive many to withdraw their assets, Glassnode’s insights showed the lawsuits made no difference to these holders. When the SEC first disclosed Binance fees, followed by Coinbase’s about 24 hours later, the market showed a significant downtrend. Bitcoin (BTC) is still trading below […] The post Long-Term Bitcoin Holders Unaffected by Recent SEC Lawsuits against Binance and Coinbase, Glassnode Reports appeared first on COINTURK NEWS.