The active supply ratio of both BTC and ETH has risen to 37% within a year.

Golden Finance reported that a "Satoshi Nakamoto era" Whale investor recently completed an over-the-counter Bitcoin transaction through Galaxy, transferring over 80,000 BTC (worth more than $9 billion), which has raised the active supply ratio of Bitcoin to 37% within a year, matching that of Ethereum, indicating that the supply dynamics of the two major encryption assets are becoming more aligned. Despite the astonishing trading volume, the price of Bitcoin remains stable at around $118,000, reflecting a significant increase in the market's ability to withstand institutional-level selling pressure. Industry insiders believe that OTC platforms like Galaxy are becoming key channels for whale trading, avoiding disturbances in the spot market. This incident has also sparked the market's attention on the real activity level of "dormant Bitcoin." Currently, it is estimated that between 2.3 million and 3.7 million BTC may be permanently lost, accounting for over 10% of the total supply. However, this transaction shows that some of the Bitcoin considered "lost" may simply have been held for a long time.