149,961 Bitcoin addresses hold at least 10 BTC
Despite the recent correction in the crypto market, the total number of Bitcoin whales has increased significantly in recent months. On August 18, the number of BTC addresses with at least 10 coins reached 149,961, the highest level since February 2021.
In addition to the recent increase in large BTC addresses, the supply of Bitcoin that was last active about 10 years ago reached a record on Thursday. According to Glassnode, a leading chain analytics platform, more than 2.5 million coins were last active in 2012.
Over the past week, Bitcoin has witnessed a sharp decline in its value as the world’s most valuable digital currency fell by nearly 9%. The crypto asset currently has a market cap of more than $420 billion.
“Currently, supply active 1+ years is just below the previous ATH set in May 2022 at 65%. This highlights the significant conviction of buyers from May-July 2021 following the great miner migration. The equilibrium over the last three months indicates that coin maturation is in balance with consumption. This can be considered a constructive mechanic within a bear market,” noted Glassnode in its recent report.
Bitcoin holders
Glassnode’s data shows that the total number of addresses with at least one Bitcoin reached an all-time high of 896,735 on Friday. The number has increased significantly since the start of 2021. Another trend evident in the recent market correction was the consistent outflow of crypto tokens from leading digital exchanges to cold wallets.
“To date, currency outflows have continued with generally increasing intensity as prices have fallen. This underscores continued structural demand, from both small and large investors, for sovereign self-custody assets. Overall, exchanges have seen net outflows of -100,000 BTC following the LUNA capitulation in May 2022, which represents 3.2% of the total outflows since the ATH in March 2020,” Glassnode added.
Despite the recent correction in the crypto market, the total number of Bitcoin whales has increased significantly in recent months. On August 18, the number of BTC addresses with at least 10 coins reached 149,961, the highest level since February 2021.
In addition to the recent increase in large BTC addresses, the supply of Bitcoin that was last active about 10 years ago reached a record on Thursday. According to Glassnode, a leading chain analytics platform, more than 2.5 million coins were last active in 2012.
Over the past week, Bitcoin has witnessed a sharp decline in its value as the world’s most valuable digital currency fell by nearly 9%. The crypto asset currently has a market cap of more than $420 billion.
“Currently, supply active 1+ years is just below the previous ATH set in May 2022 at 65%. This highlights the significant conviction of buyers from May-July 2021 following the great miner migration. The equilibrium over the last three months indicates that coin maturation is in balance with consumption. This can be considered a constructive mechanic within a bear market,” noted Glassnode in its recent report.
Bitcoin holders
Glassnode’s data shows that the total number of addresses with at least one Bitcoin reached an all-time high of 896,735 on Friday. The number has increased significantly since the start of 2021. Another trend evident in the recent market correction was the consistent outflow of crypto tokens from leading digital exchanges to cold wallets.
“To date, currency outflows have continued with generally increasing intensity as prices have fallen. This underscores continued structural demand, from both small and large investors, for sovereign self-custody assets. Overall, exchanges have seen net outflows of -100,000 BTC following the LUNA capitulation in May 2022, which represents 3.2% of the total outflows since the ATH in March 2020,” Glassnode added.
