The number of small bitcoin holders sets records
Bitcoin addresses with 0.1+ BTC on the balance reach a historic high.
Retail Investors Show Growing Interest in BTC.
This trend could herald a new wave of growth in the bitcoin rate..
International consortium of news organizations developing transparency standards.
The number of medium-sized holders of the main cryptocurrency continues to grow – the number of addresses with 0.1+ BTC on the balance has reached an all-time high.
This trend may indicate an increase in the attractiveness of Bitcoin, even among the ranks of retail buyers..
More than 3 million addresses have $ 950 worth of bitcoins+
According to the analytical platform Glassnode, the number of bitcoin addresses with 0.1+ BTC on the balance reached a new all-time high of 3,054,282, breaking the previous record of 3,054,070, reached on May 21. At the current bitcoin rate, 10% of its value accounts for about $ 950.
The chart above shows that Bitcoin remains attractive to retail investors. Several reports for the current year alone indicate an increased interest in the largest cryptocurrency from small market participants.
In April, Coinbase reported a surge in BTC purchases of $ 1,200, and at the end of March, Bitcoin addresses with 1+ BTC on their balance updated their all-time high.
Bitcoin running out of addresses? Programmer explains.
Even during the so-called Black Tuesday, when all markets collapsed due to the coronavirus pandemic, retail players actively bought BTC in the fall..
A similar situation is observed with holders of 1+ BTC – the number of such addresses exceeded 800 thousand, as evidenced by data from Glassnode.
Considering this trend as a secondary indicator of growing demand, it can be assumed that a new wave of growth awaits Bitcoin. At the same time, the number of hodlers, or long-term coin holders, also continues to grow. Also, about 79% of BTC supply is in the profitability zone, and this metric has continued to grow since the market crash in mid-March..
Platforms like Square’s Cash App are benefiting from the growing number of retail investors involved in the game. In the first quarter of this year, the fintech application Cash App and the Grayscale cryptocurrency fund absorbed more than 50% of the mined bitcoins in the first quarter of 2020.
All information contained on our website is published in good faith and objectivity, and for informational purposes only. The reader is solely responsible for any actions he takes based on the information received on our website..