Number Of Bitcoin Addresses Holding Over 1,000 Coins Reached A 3-year Low
Key Points:
- The number of Bitcoin addresses holding more than 1,000 Coinsjust reached a 3-year low of 2,031.
- Bitcoin addresses with more than 1000 coins are the wallet addresses of sharks or whales, who hold the majority of the current Bitcoin supply and have a certain influence on the number of coins they hold.
- The data shows the concentration of sharks and whales is still maintained. Large investors are still waiting for the opportunity to explode.
Just yesterday, we saw some positive numbers from retail Bitcoin investors, today, the numbers reflecting larger Bitcoin addresses are not so positive.
On January 2, Glassnode data shows that the number of addresses holding more than 1,000 Bitcoins is 2,031, a three-year low.
Bitcoin addresses with more than 1000 coins, in other words, these are the wallet addresses of sharks or whales, who hold the majority of the current Bitcoin supply and have a certain influence on the number of coins they hold. Bitcoin storage on exchanges is now limited, with safety being placed higher since the FTX disaster.
The number of Bitcoin supply last activities 2-3 years (1d MA) has also risen to a one-year high.
This chart shows the percentage of Bitcoins inactive for 2-3 years and more. More Bitcoins remaining inactive means more Bitcoins are being held instead of traded, which could lead to a spike in price.
From that, we can deduce on a micro level retail investors are massively hoarding Bitcoin, and even more, the concentration of sharks and whales is still maintained. Large investors are still waiting for the opportunity to explode.
Some analysts are still concerned about the current situation of Bitcoin when its price over the past year has not shown any signs of recovery. Investors might want to take a moment to reflect on the anticipated investment trends for the 2022 before further plunging into the BTC pool. According to CryptoQuant researcher Wenry, Bitcoin owners should brace themselves for a major decline in value in 2023.
At the time of writing, BTC is trading at $16,730.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
Coincu News
Author
Bitcoin
Number Of Bitcoin Addresses Holding Over 1,000 Coins Reached A 3-year Low
Key Points:
- The number of Bitcoin addresses holding more than 1,000 Coinsjust reached a 3-year low of 2,031.
- Bitcoin addresses with more than 1000 coins are the wallet addresses of sharks or whales, who hold the majority of the current Bitcoin supply and have a certain influence on the number of coins they hold.
- The data shows the concentration of sharks and whales is still maintained. Large investors are still waiting for the opportunity to explode.
Just yesterday, we saw some positive numbers from retail Bitcoin investors, today, the numbers reflecting larger Bitcoin addresses are not so positive.
On January 2, Glassnode data shows that the number of addresses holding more than 1,000 Bitcoins is 2,031, a three-year low.
Bitcoin addresses with more than 1000 coins, in other words, these are the wallet addresses of sharks or whales, who hold the majority of the current Bitcoin supply and have a certain influence on the number of coins they hold. Bitcoin storage on exchanges is now limited, with safety being placed higher since the FTX disaster.
The number of Bitcoin supply last activities 2-3 years (1d MA) has also risen to a one-year high.
This chart shows the percentage of Bitcoins inactive for 2-3 years and more. More Bitcoins remaining inactive means more Bitcoins are being held instead of traded, which could lead to a spike in price.
From that, we can deduce on a micro level retail investors are massively hoarding Bitcoin, and even more, the concentration of sharks and whales is still maintained. Large investors are still waiting for the opportunity to explode.
Some analysts are still concerned about the current situation of Bitcoin when its price over the past year has not shown any signs of recovery. Investors might want to take a moment to reflect on the anticipated investment trends for the 2022 before further plunging into the BTC pool. According to CryptoQuant researcher Wenry, Bitcoin owners should brace themselves for a major decline in value in 2023.
At the time of writing, BTC is trading at $16,730.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
Coincu News
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