Bitcoin supply held by shrimps hits all-time high of 1.31 BTC

  • Bitcoin wallets with less than 1 BTC now hold an all-time high of 1.31 million coins.
  • Shrimps have been adding an average of 26,000 BTC every month, data shows.
  • The growth of the shrimp cohort is a positive development for the Bitcoin network.

The amount of Bitcoin held by “shrimps” – those wallet entities that currently hold less than 1 BTC) has reached a new all-time high.

According to data from Glassnode, shrimps have increased their total holdings to 1.31 million BTC. The cohort has witnessed the gradual increase in holdings over the past several months.

Shrimps grow holdings by +26,000 BTC every month

Per data Glassnode shared via Twitter, the shrimp cohort has experienced a significant expansion of their holdings in 2023. This followed a similar trend last year, with the buying among this group coming despite the greater volatility that hit the market.

Specifically, shrimps have added 26,000 or more Bitcoin every month. Since July 2020, only 202 (3.9%) trading days have recorded a larger monthly growth.

The suggestion from this is that retail investors have been aggressive in accumulating BTC, with the dips seen during the bear market providing investors with an opportunity to buy Bitcoin at low prices.

The chart below shows the growth in the amount of BTC held by wallet addresses with less than 1 bitcoin. As you can see, the amount held by these entities has increased significantly in June/July 2022 and again in November/December and January 2023.

Increase in small holders is a positive for the long-term health of Bitcoin’s network as the metric suggests retail investors are confident in the cryptocurrency’s growth and long term potential.

All Dutch and English crypto news!

Web3 ad service Everyworld reaches 225K users within a month of launching beta

The service is currently available in beta for select markets. News Own this piece of crypto history Collect this article as NFT Join us on social networks Web 3 advertising...

Breaking: Sam Bankman-Fried moet 25 jaar de bak in

Sam Bankman-Fried, de mede-oprichter van de failliete exchange FTX, is veroordeeld tot een gevangenisstraf van 25 jaar. Bankman-Fried wordt er van beschuldigd grootschalige fraude te...

Crypto users react to Sam Bankman-Fried’s 25-year sentence

Many on social media suggested that 25 years was “too light” given the former FTX CEO’s crimes, speculating that he would end up serving less...

Price analysis 3/28: BTC, ETH, BNB, SOL, XRP, ADA, DOGE, AVAX, SHIB, TON

Bitcoin is looking positive, but the up move is likely to face stiff resistance above $72,000. Price Analysis Own this piece of crypto history Collect this article as...

Beste exchanges

Koop je crypto bij Bitvavo