Non-Bitcoin Whale Investors Break New BTC Accumulation Record
Bitcoin addresses holding up to 10 BTC have racked up record amounts of BTC following the FTX crash.
New
Some non-whale bitcoin (BTC) investors appear to have had no issues with the cryptocurrency bear market as well as fear, uncertainty and doubt (FUD) around FTX's downfall, suggest string data.
Small retail investors have become increasingly bullish on Bitcoin and have started accumulating more BTC despite the current market crisis, according to a report by blockchain intelligence platform Glassnode on Nov. 27.
>According to the data, there are at least two types of retail Bitcoin investors who have accumulated the record amount of BTC following the collapse of FTX.
The first type of investors – categorized as shrimps – defines entities or investors who hold less than 1 Bitcoin, $16,500 at the time of writing, while the second type – crabs – are a category of addresses holding up to 10 BTC, $165,000 at time of writing.
Shrimp investors reportedly added 96,200 BTC ($1.6 billion) to their portfolios following the FTX crash in early November, representing a "record increase in balance". This type of investor collectively holds 1.21 million BTC, or $20 billion at the time of writing, which equates to 6.3% of the current circulating supply of 19.2 million coins, according to Glassnode. .
Meanwhile, the "crabs" have bought around 191,600 BTC, or $3.1 billion, over the past 30 days, which is also a "compelling all-time high", the analysts said. According to the data, the new milestone broke a previous peak of BTC accumulation recorded by crabs in July 2022 at a peak of 126,000 BTC, or $2 billion, purchased per month.
Bitcoin net position change for addresses containing up to 10 BTC. Source: Glassnode
Bitcoin addresses holding up to 10 BTC have racked up record amounts of BTC following the FTX crash.
New
Some non-whale bitcoin (BTC) investors appear to have had no issues with the cryptocurrency bear market as well as fear, uncertainty and doubt (FUD) around FTX's downfall, suggest string data.
Small retail investors have become increasingly bullish on Bitcoin and have started accumulating more BTC despite the current market crisis, according to a report by blockchain intelligence platform Glassnode on Nov. 27.
>According to the data, there are at least two types of retail Bitcoin investors who have accumulated the record amount of BTC following the collapse of FTX.
The first type of investors – categorized as shrimps – defines entities or investors who hold less than 1 Bitcoin, $16,500 at the time of writing, while the second type – crabs – are a category of addresses holding up to 10 BTC, $165,000 at time of writing.
Shrimp investors reportedly added 96,200 BTC ($1.6 billion) to their portfolios following the FTX crash in early November, representing a "record increase in balance". This type of investor collectively holds 1.21 million BTC, or $20 billion at the time of writing, which equates to 6.3% of the current circulating supply of 19.2 million coins, according to Glassnode. .
Meanwhile, the "crabs" have bought around 191,600 BTC, or $3.1 billion, over the past 30 days, which is also a "compelling all-time high", the analysts said. According to the data, the new milestone broke a previous peak of BTC accumulation recorded by crabs in July 2022 at a peak of 126,000 BTC, or $2 billion, purchased per month.
Bitcoin net position change for addresses containing up to 10 BTC. Source: Glassnode
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