Insights

Bitcoin hits milestone as number of addresses holding 1 BTC nears 1M

exchange68September 13, 2024

0 0 1 minute read

Quick Take

Bitcoin is approaching its one millionth address holding one BTC or more.
This is exponential growth from this cohort, also known as “crabs”.
The cohort that is just below “crabs”, is referred to as “shrimps”, which is currently accumulating Bitcoin at the third most aggressive rate in the past five years.
This is encouraging to see as CryptoSlate analyzed that whales were distributing Bitcoin at an aggressive rate — which only distributed more Bitcoin to more holders.

Number of addresses 1 Bitcoin: (Source: Glassnode)

Number of addresses 1 Bitcoin or less: (Source: Glassnode)

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.