50% of Bitcoin supply untouched for a year – January 11

Current Bitcoin Price: $3692 (as of 9:30 AM PST)

Since yesterday’s hit, there have been mostly quiet waters in the cryptocurrency market. A good handful of coins, including Bitcoin — which amounts for more than 50% of total market cap across all cryptocurrencies — haven’t budged a bit.

In comparison to the 1% or 0.1% gains and losses that most other assets are posting, Binance Coin’s 5% gain seems rather impressive. Likewise, NEM, NEO, and Ethereum Classic have shot up more than 3%.

Top Bitcoin & Crypto News Stories for 11th January 2018

50% of Bitcoin supply untouched for a year

There’s a huge amount of Bitcoin traded every day — right now 24 hour volume is sitting just above $5 million — but much of this trading takes place on exchanges. A fair amount of Bitcoin must be sitting in wallets then, but just how much?

Impressive statistics reveal that 50% of Bitcoin’s supply has been left untouched for over a year (although a large portion of this may be accounted for by exchanges’ reserves), while more than 20% of it could be lost for good.

Italian winemakers track product on VeChain

One of the most obvious applications for blockchain technology is to track status updates for some product or service on an immutable ledger. For food and accessory companies, it’s long been thought that blockchain could provide the solution to tracking the authenticity and history of these products.

Three Italian winemakers have just started tracking their products on the VeChain network, using the My Story implementation. This allows customers to see the exact history of their bottle of wine, as stored on the blockchain, through just a few taps on their mobile phone.

Patreon users leave to start crypto alternative

Patreon is an internet platform for funding creators on a recurring basis, where their audience chooses a small monthly donation, sometimes in exchange for rewards.

Patreon users Dave Rubin — the notable US political commentator — and Jordan Peterson — the psychologist and UToronto professor — have decided to leave Patreon and build an alternative, with Dave writing:

“It’s becoming clearer and clearer to me that crypto and decentralization will have to play a significant role.”