HomeTechnologyThe number of addresses...

The number of addresses holding more than 1 BTC is at its peak!


As Bitcoin (BTC) tries to set aside 2022 lows, new data shows that investors are accumulating more of the asset, as highlighted by the number of addresses holding above one BTC.

The number of addresses holding more than 1 BTC is at its peak!

According to data from cryptocurrency analytics platform Glassnode., as of August 10, the number of Bitcoin addresses with more than 1 BTC rose to an all-time high of 894,303.

The number of addresses holding more than 1 BTC is at its peak!  - Picture : 1

Number of Bitcoin addresses with at least 1 BTC. Source: Glassnode

Investors accumulating at the bottom

It’s worth noting that Bitcoin as a whole is relatively expensive to buy for most investors, and the recent market crash seemed to offer an opportunity to buy the asset.

Bitcoin has provided a buying opportunity, in particular, correcting over 65% since its nearly all-time high of nearly $68,000 in November 2021.

The belief that Bitcoin will recover in the future guides investors who buy on the decline. For example, during the second run of 2022, Bitcoin posted its worst quarterly return in a decade, at -56%, but presented an opportunity for investors who missed out on the previous bull market.

Bitcoin whale event

The data could also point to whale activity where high-net-worth individuals were buying in the midst of a market correction. Historically, the accumulation of this group has driven the crypto market by influencing price action.

In some cases, some people (investors) may have access to more than one crypto wallet.

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

Unprecedented Hard Drive Storage Density Unlocked

A new HDD technology involving three-dimensional magnetic recording could enhance storage...

A New Study Shakes Up Ecological Theories

Nanuqsaurus, standing in the background, and pachyrhinosaurus, skull in the foreground,...

How VIPER’s High-Tech Mast Is Transforming Lunar Missions

An artist’s concept of the completed design of NASA’s Volatiles Investigating...

New Research Suggests That Cutting Exposure to Common Chemicals Could Slow Aging

Researchers at Nagoya University have linked aldehydes, byproducts from alcohol, pollution,...

- A word from our sponsors -

Read Now

Unprecedented Hard Drive Storage Density Unlocked

A new HDD technology involving three-dimensional magnetic recording could enhance storage capacities and reduce the number of HDDs needed, promising future cost and energy efficiencies. Credit: SciTechDaily.comPossibility of ultra-high density hard disk drives with areal densities exceeding 10 Tbit/in² using multi-level magnetic recording.Research groups from NIMS, Seagate...

A New Study Shakes Up Ecological Theories

Nanuqsaurus, standing in the background, and pachyrhinosaurus, skull in the foreground, were among the dinosaur species included in a new study led by scientists at the University of Alaska Fairbanks and the University of Reading that calls into question Bergmann’s rule. Credit: James HavensWhen you throw dinosaurs...

How VIPER’s High-Tech Mast Is Transforming Lunar Missions

An artist’s concept of the completed design of NASA’s Volatiles Investigating Polar Exploration Rover, or VIPER. VIPER will get a close-up view of the location and concentration of ice and other resources at the Moon’s South Pole, bringing us a significant step closer to NASA’s ultimate goal...