Bitcoin Retail Addresses With 10 BTC Reach Unprecedented Highs
Bitcoin Retail Addresses With 10 BTC Reach Unprecedented Highs
In a groundbreaking development, the number of Bitcoin addresses holding a minimum of 10 Bitcoins has soared to never-before-seen heights, as revealed by on-chain analytics firm. Currently, there are a staggering 157,400 wallets that represent this new pinnacle in the realm of Bitcoin retail addresses.
This surge is particularly significant when considering historical data. Santiment, the analytics firm, has highlighted a noteworthy surge in the presence of "shark" and "whale" wallets (those holding at least 10 BTC) since 2022. This prolonged period of growth spanning 20 months suggests a steady accumulation pattern by retail addresses.
Remarkably, over the past 20 months, 11,806 additional addresses have breached the 10 BTC threshold, indicating a consistent trend of retail accumulation. This trend, persistent despite the crypto market's notorious price fluctuations, underscores the resilience of retail investors.
However, it's essential to exercise caution when interpreting these figures. While the number of addresses holding 10 or more Bitcoins has increased, it does not necessarily translate to heightened market involvement. Small balances in these wallets could be remnants of significant transactions or singular user holdings.
In related news, Bitcoin's price experienced a recovery, reaching a high of $26,910 on October 14th, following reports that the SEC would not challenge the Grayscale case ruling. This development increased the likelihood of the Grayscale Bitcoin trust (GBTC) transforming into an ETF, as the SEC is anticipated to rule on similar applications from other asset managers like BlackRock and Fidelity in the coming year.
At the time of writing, Bitcoin was up by 0.37% in the last 48 hours, trading at $26,898.
This exclusive article was crafted based on the latest insights and data from the crypto market, providing readers with an in-depth analysis of the unprecedented rise in Bitcoin retail addresses holding 10 BTC or more.
