Breaking Crypto News – What Are the Benefits of Being a Bitcoin Wholecoiner Above the 1 Million Mark?
Breaking Crypto News – For the past 13 months, there have been more than one million Bitcoin whole-coiners. According to Glassnode data, the first time the one million wholecoiner milestone was attained was on May 13, 2023, when the price of Bitcoin was only $27,000.
According to Glassnode, on January 1 of this year, the number of wholecoiner wallet addresses hit an all-time high, with little more than 1,024,000 wallets containing one or more Bitcoin. Currently, 1,010,800 wallet addresses hold one or more Bitcoins, despite the fact that the price of Bitcoin shot up to double that in May 2023.
Bitcoin Wholecoiners’ Wallet Addresses Suffered a Serious Decline 3 Times
The “one million” Bitcoin wallet milestone points to a notable increase in the several Bitcoin owners. It’s crucial to remember that a single Bitcoin wallet address does not always belong to a single person. Numerous cryptocurrency investors possess multiple Bitcoin addresses, while significant institutions such as investment firms and cryptocurrency exchanges own substantial amounts of Bitcoin through these addresses.
Wallet addresses for Bitcoin wholecoiners have occasionally experienced substantial drops of up to 30,000. Three times in total, this has occurred: in the depths of a protracted bear market in September and December 2018, between March and May 2016, and between February and July 2021, amid a strong sell-off following a spectacular surge months earlier.
FAQ
How Many Bitcoin Wholecoiners Are There Now?
For the past 13 months, the quantity of Bitcoin whole-coiners, or addresses holding one or more BTC, has remained above one million.
Why is Bitcoin Falling?
Due to negative ETF flows and subpar economic data from previous weeks, the cryptocurrency market is still falling and is still erratic, with the price of bitcoin decreasing.
When Was the First Time a Wallet Address Owned More Than One Bitcoin?
Only one wallet address—Sataoshi Nakamoto’s—held several Bitcoins during the initial introduction of the cryptocurrency on January 3, 2009.
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