According to Blockworks, on Tuesday, Glassnode data showed that the number of independent addresses holding at least one bitcoin exceeded 1 million, setting a new high; the number of addresses with more than 10 bitcoins also broke the highest level since September 2019.
Also this week, Bitcoinâs dormant supply hit a new all-time high of 15.2 million, while exchange balances fell to their lowest level since January 2018. Bitcoin held in wallets has little transaction history, suggesting that more Bitcoin holders are choosing to HODL rather than sell in anticipation of future price increases.
About 146,000 bitcoins flow from centralized exchanges to illiquid wallets every month. Glassnode said this could provide a "gradual and stable" accumulation phase for a specific group of holders over the next six months. Glassnode added that this could also lead to a period of stagnation over the next eight to 18 months, similar to previous cycles in Bitcoin's history.
Yesterday, according to Glassnode data, addresses holding less than 100 BTC increased their holdings by an average of 2,286 BTC (about 60 million US dollars) per day last month, which is 2.54 times the daily network mining output (900 BTC).
At present, "shrimp" holds 1.26 million BTC, accounting for 6.6% of the total circulation, higher than 4.86% a year ago; "crabs" hold 2.03 million BTC, accounting for 10.5% of the circulation. The total holdings of the two have increased by 8.7% compared with a year ago. At the same time, "whales" hold about 6.64 million BTC, accounting for 34.4%. (Note: shrimp refers to holding less than 1 BTC; crabs refer to holding 1-10 BTC; whales refer to holding 1000-5000 BTC)
