The smallest Bitcoin wallets have increased since the second halving

The number of Bitcoin addresses since the second halving has increased in all cases the number of purses small with balances less than 0.1 BTC was that who experienced a major increase.

After this Glass node data released on May 11, The number of Bitcoin addresses (BTC) with an account balance less than 0.01 BTCUSD 86 at the time of printing, After the third halving, it increased by 235% compared to the second halving in July 2016over ten million. Addresses with a balance between 0.01 BTC and 0.1 BTC, approximately USD 86 to USD 860, increased by 204%, and the number of those with more than 0.1 BTC, but less than 1 Bitcoin rose by 142%.

The smallest Bitcoin wallets have increased since the second halving
The smallest Bitcoin wallets have increased since the second halving

Source: Glass knot

Even the number of whales with addresses greater than 1000 BTC$ 8.6 million at press time, increased by 13.2%, while the number of purses between 100 BTC – 1000 BTCat least USD 860,000, only increased by 6.3%.

Are “older” wallets responsible for volatility?

During the cryptocurrency crash in March, there was some speculation as to whether long-term BTC HODLers who had stored their secure cryptocurrencies in their wallets for more than five years might have been responsible for the crash. As Cointelegraph reported Transactions in currencies that have been stored for six months or less may have fueled the Bitcoin market during the 2019 bull phase and the March sell-off.

Similar Posts