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Data shared by IntoTheBlock shows that BTC’s balance of a certain category of bitcoin addresses reached a new all-time high after Terra dumped its bitcoins on the market in early May.
250 000 + 80 000 BTC purchased by holders
According to the latest report from a company working with data on the network, the balance of BTC addresses on which bitcoins have been stored for more than one year has reached a new historical peak. Now these wallets contain 12.73 million bitcoins.
The IntoTheBlock team said that since May 7, the owners of these wallets have purchased an astounding 250,000 bitcoins. This acquisition began around May 7, when the Luna Foundation Guard (LFG), the organization behind the LUNA Terra coin and the UST algorithmic stablecoin, began selling its bitcoin caches.
Luna Foundation Group has dumped about $1.5 billion worth of bitcoin into the market in an attempt to maintain the peg of its stablecoin UST.
A total of 250,000 bitcoins are worth $7,955,425,000 at the current BTC/USD exchange rate of $31,812. As for the total amount of BTC stored on the above-mentioned wallets, 12.73 million BTC, it is equal to 405,090,241,000,000 US dollars.
Earlier it was reported that 80,000 BTC were bought by organizations after they were sold to Luna Foundation Guard on May 9.
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