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

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

0
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…



Read more…