Bitcoin Adds 277K Small Holders In 2 Weeks Amid ATH

The recent rally that pushed the price of Bitcoin to an all-time high (ATH) above $72,700 has catalyzed the emergence of addresses with less than 0.1 BTC.

According to data from crypto analytics platform Santiment, over the past 2 weeks, addresses holding at most 0.1 BTC have surged by at least 277,000. The retail adoption of Bitcoin across different categories of small holders shows different data.

As a complement to the jump in 0.1 BTC holders, addresses with at least 1,000 BTC dropped within the same timeframe.

Bitcoin Holder Count by Class

With Bitcoin surpassing ATHs, FOMO might be inevitable, thus accounting for the retail boost. Per the Santiment data, the number of wallets with less than 0.1 BTC has grown by 0.6% in 2 weeks. As of March 12, 48.04 million wallets are holding 0 to 0.1 BTC.

The number of wallets with 0.1 to 10 BTC took a 0.8% plunge in the last 14 days. As a major complement, the wallets with 10 to 1,000 BTC saw a 0.5% drop over the same period. While the wallet addresses in the 0.1 to 10 BTC class come in at 4.37 million, the count of those holding between 10 and 10,000 BTC is 151,180.

🐳🐠 Over the past 2 weeks, as #Bitcoin has repeatedly extended its now $72.7K #AllTimeHigh, small wallets with less than 0.1 $BTC have continued increasing in number (+277K more). Meanwhile, wallets with 1K+ $BTC have dropped (105 less). https://t.co/PwschnMmzH pic.twitter.com/KoLCEsvjo3

— Santiment (@santimentfeed) March 12, 2024

The Bitcoin whales or addresses holding at least 1,000 are down by 105, having recorded a 4.9% slump in the past 2 weeks. These addresses which have the likes of MicroStrategy Incorporated and El Salvador sum up to 2053.

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Bitcoin Profitability Overview

As reported earlier, the profitability of Bitcoin addresses has topped the 100% benchmark, an influence of the ATH price now pegged at $73,637.

With the Bitcoin halving and continuous accumulation of the coin by ETF issuers, the growth prospects of the premier digital currency are enormous. Despite the latest price surge, there are projections for more growth ahead.

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• Source: https://thecryptobasic.com/2024/03/13/bitcoin-adds-277k-small-holders-in-2-weeks-amid-ath/?utm_source=rss&utm_medium=rss&utm_campaign=bitcoin-adds-277k-small-holders-in-2-weeks-amid-ath