There are now more than one million Bitcoin wallet addresses that contain one Bitcoin or more. According to data from Glassnode, the million whole-coiner milestones were accomplished on May 13.
According To Glassnode, Bitcoin Wallet Addresses Holding 1 BTC or More have Reached One Million
The number of wallet addresses holding one or more Bitcoins increased as the price of Bitcoin dropped more than 65% over last year. The most notable increases occurred during a severe market crash in June and starting on November 11, the day FTX crashed and subsequently filed for bankruptcy.
About Wholecoiners
Since early February 2022, when the price of Bitcoin began to decline from its peak in November 2021, a staggering 190,000 or so “wholecoiners” have been added. Negentropic, a co-founder of Glassnode, advised his 54,000 Twitter followers that the greatest time to purchase Bitcoin is when “blood is in the streets.”
Glassnode’s Statements
In addition to the Fed considering perhaps pausing interest rate increases in the upcoming months, his remarks came in the wake of multiple significant bank failures in the United States. For a number of factors, including those listed above, Glassnode stated that it “remains confident” that Bitcoin will eventually reach a price of $35,000.
Moreover, according to estimates from Glassnode, 3 million BTC — worth $80.4 billion and representing 17% of the total circulating supply — are “lost forever.” Glassnode derives the figure from a combination of data, including BTC sent to “burn addresses,” wallets with lost keys, and large accounts that have been inactive for more than ten years.
CoinGlass’ Data
Of the approximately 19 million Bitcoin that are now in circulation, 1.89 million of them, worth $50.7 billion, are held on significant centralized exchanges like Binance and Coinbase, according to data from cryptocurrency analytics service CoinGlass.
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