Wallets holding more than 1 Bitcoin (BTC) surpassed 1 million on May 15, according to Glassnode data. It shows that the long-term sentiment is holding up even as the market environment weighs down.
Looking at the data, from November last year to January this year, the number of wallets holding 1 BTC or more increased by 79,000. This timing coincides with the collapse of FTX, when the Bitcoin price briefly fell from above $22,000 to below $16,000.
The recent rise in “Bitcoin Request for Comment” tokens, the so-called BRC-20 tokens, has not contributed much to the increase in wallets. The increase was limited to 30,000.
Also, some market players believe that the majority of Bitcoin transactions today are through small wallets, even though the number of wallets holding more than 1 BTC is increasing.
“During the last peak of 2019, most bitcoin transactions were skewed towards large transactions between $1,000 and $10,000. It shows that it was using blockchain,” ETC Group head of research Tom Rodgers told CoinDesk, continuing:
“Contrast this with last week, where sub-$1 transactions accounted for the most, with 359,560. This shows a significant increase in Bitcoin velocity. ing”
｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
| Image: Glassnode
｜ Original: One Million Individual Wallets Now Hold a Whole Bitcoin
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