Buy Now: New Crypto Presale Offers 100x Potential!

• Bitcoin wallet addresses with under 100 BTC purchased 2.54x of daily mined supply over the past month.
• Shrimps, Crabs and Fish cohorts added 117%, 80% and 57% respectively to their total holdings last month.
• Whales currently hold approximately 6.64 million BTC, down from a peak of 7.8 million BTC in 2016.

Bitcoin Holders Scoop up Mined Supply

Last month saw more entities with less than 100 BTC buy 2.54X of all coins mined, according to on-chain data shared by Glassnode. With 900 Bitcoins mined each day, these entities scooped up 2,286 BTC per day as they increased their holdings by 117%, 80% and 57% for Shrimps (less than 1 BTC), Crabs (1-10 BTC) and Fish (less than 100 BTC) cohorts respectively. This was a massive 254% increase in terms of the share of mined coins compared to the same time last year when Shrimps held 4.86%, Crabs 8.7% and Fish 0%.

Shrimps Increase Total Holdings

Shrimps now hold 1.26 million Bitcoin or 6.6% of the total circulating supply, up from roughly 4.86% a year ago while Crabs account for 2.03 million BTC which is 10.5 % of circulating supply – an increase from 8 .7 % from a year ago .

Whale Entities Decrease

The whale cohort’s total holdings have declined significantly since Bitcoin’s first halving in 2012 when whales accounted for 62 .7 % of total BTC supply – this has dropped to 34 .4 % as of June 2023 . Currently whales hold approximately 6 .64 million Bitcoin , down from a peak of 7 .8 million in 2016 .

Price Struggles Aside

Despite Bitcoin’s price struggles , these entities had managed to take advantage during the dip by adding $60M worth each day at current prices around $26 , 300 per coin – this could be an indication that people are still confident about the long term potential in crypto market despite its short term volatility .

Conclusion

It appears that small investors are taking advantage of dips to add more coins to their wallets despite the long term price struggles – this could be seen as a sign that there is still confidence towards cryptocurrencies within market participants .

Written by admin