Almost 1 million blockchain addresses now contain over 1 Bitcoin

Almost 1 million blockchain addresses now contain over 1 Bitcoin

The long entrenchment of Bitcoin below $ 24,000 offered smaller owners plenty of opportunity to increase their position size, as on-chain data show.

Almost 1 million bitcoin addresses now contain over 1 BTC, a large part of which has been accumulated between 2021 and 2023.

The rise of the BTC Shrimps

according to the on-chain data made available look at Bitcoin there are 991.670 bitcoin addresses on March 29 - a number that has increased steadily since the introduction of Bitcoin, since more BTC has entered the network.

However, this number quickly increased after the collapse of the crypto stock exchange giant FTX in November from 915.110 on November 8th to 961,756 on December 8th. The event pressed Bitcoin's price for the first time in 2020 to $ 15,500, which is probably a pleasure for committed Hodlern to stack Sats.

manufacturer of individual crypto hardware walls looked at record sales in the days after the bankruptcy of FTX Wallets persuaded to centralized stock exchange walls. This could also help to explain the growth of smaller address credit, since stock exchanges often summarize the BTC of thousands of users to a blockchain address

In addition, the blockchain intelligence company Glassnode noted at the time, as "Shrimps"-blockchain addresses with <1 BTC-within the month a record amount of 96.2,000 BTC have added collective stocks.

Bitcoins offer distribution

In the long term, the number of wallets with> 0.1 BTC (4,289.243) and> 0.01 BTC (11.724.266) has also grown further. In the meantime, the number of addresses with> 10 BTC or> 100 BTC has remained relatively unchanged since at least 2018, while Wallets with> 1000 BTC has dropped by about 20 % since 2021.

data from Coinmarketcap only about 11 % of Bitcoin's offer are kept by companies with more than 0.1 % of all stocks. This is a fairly low concentration of assets compared to certain old coins such as Ethereum or Cardano, the numbers of which are 39 % or 33 %.

in 2021, Coinmetrics analyst Nate Madrey recommended Proof-of-work consensus mechanism is due, the miner stimulates to sell newly shaped coins on the market instead of hoarding them.

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