Number of Bitcoin Wallets with 1,000+ BTC Hits 9-Month High: Glassnode

News
Sat, 07/25/2020 - 08:51
Yuri Molchan
According to the data shared by Glassnode, the number of Bitcoin addresses holding more than 1,000 BTC has reached a nine-month high
Cover image via stock.adobe.com
Contents

Analytics data provider Glassnode has published a chart, showing that the number of BTC wallets with more than 1,000 BTC on their balances has increased, reaching a major high.

Is number of Bitcoin whales growing?

Glassnode has shared data that the amount of Bitcoin wallets holding more than 1,000 BTC for their owners has spiked to a nine-month high of 2,170.

1,000 BTC is equal to a staggering $9,584,670.

The growth from the previous high of 2,168 wallets has taken place in less than one day. This could mean that either two more investors have got themselves more BTC and became Bitcoin whales.

Or, perhaps, just the already existing Bitcoin holders have split their BTC stash between several addresses.

Image via Twitter

The recent peak in the number of wallets with the same amount of BTC was noticed by Glassnode last year on September 30, according to the chart. Back then, there were 2,180 such wallets.

Image via Glassnode

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BTC active supply amount drops to a 13-month low

Another chart published by Glassnode shows that the BTC active supply 6-12 months (1d MA) has dropped to a low of thirteen months and now totals 1,957,244.982 BTC.

The data shows that over the past year, investors have not been moving their BTC but ‘hodling’, waiting for the Bitcoin supply cut on May 11 and expecting Bitcoin to rally after that.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.


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