Axel Adler Jr: Bitcoin Herfindahl Index Reaches Highest Level Since December 2021

According to Cryptoquant analyst Axel Adler Jr, as of July 21, the Herfindahl-Hirschman Index (HHI) reached 1116.1, marking a new high since December 2021. Over the past 90 days, the index has increased by 5.5%, and over the past 180 days, it has risen by 10.1%. The proportion of holdings with a duration of 6–12 months rose from 12.9% to 19.3%, while holdings of 3–6 months decreased from 14.3% to 6.3%. Coins held for over ten years account for 17.7% of the total supply. Across the entire market, 81.6% of Bitcoin supply has not been transferred in more than six months, with 62.3% of Bitcoin idle for over a year.