Bitcoin SLA Hits All-Time High: Similar Trend Seen in 2015 Bear Market

• Bitcoin Supply Last Active (SLA) 1+ years ago indicates hits an all-time high of 66.90%.
• This trend is similar to the 2015 bear market bottom, where all supply last active categories were also at an all-time high.
• This indicates that hodl’ing is the preferred method of choice.

Bitcoin SLA Hits All-Time High

Bitcoin Supply Last Active (SLA) 1+ years ago has reached an all-time high of 66.90%, indicating that hodling is becoming the preferred choice amongst investors. This current trend is similar to the 2015 bear market bottom, where all supply last active categories were at an all-time high, suggesting that long-term investing and holding onto coins is favored over short term trading and selling.


The percent of circulating supply that has not moved in at least one, two, three, or five years is referred to as “Supply Last Active” (SLA). As longer-term investors accumulate coins, these metrics will tend to rise; conversely if long-term investors spend and distribute their coins this metric will decline with older coins becoming young again as they change hands.

Quick Take

Hodling seems to be the preferred method of choice amongst cryptocurrency investors since Bitcoin’s SLA has hit an all time high in every category analyzed. This trend is eerily similar to what was seen in 2015 when Bitcoin hit its lowest point during a bear market and SLAs for every category were also at record highs .

Supply Last Active Metrics

The following chart displays an overlay of multiple Supply Last Active variants shown as a percentage of Circulating Supply:

– Supply Last Active 1+ Yrs Ago 🔴: 66.90%

– Supply Last Active 2+ Yrs Ago 🟠: 49.88%

– Supply Last Active 3+ Yrs Ago 🟢: 39.06%

– Supply Last Active 5+ Yrs Ago 🔵: 28.11%

Source: Glassnode


This data suggests that hodling remains a popular strategy amongst crypto investors even during bear markets when prices are low and volatility is high; this could mean either that investor confidence in cryptocurrencies remains strong or simply that traders are looking for long term profits instead of quick wins from day trading. Only time will tell which strategy proves successful but it looks like hodlers may have the upper hand right now!