Smaller Bitcoin Wallets on the Rise Since Second Halving
Smaller Bitcoin Wallets on the Rise Since Second Halving
The number of Bitcoin addresses with balances less than ane BTC has increased by more 100% since the second halving in July 2022.
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The number of Bitcoin addresses since the 2d halving has increased across the board, but the number of pocket-sized wallets with balances of less than 0.1 BTC saw the greatest improvement.
According to information from Glassnode posted on May xi, the number of Bitcoin (BTC) addresses with a balance of under 0.01 BTC — approximately $86 at the time of writing — later on the third halving increased 235% when compared to the second halving in July 2022, exceeding ten 1000000. Those addresses with a residuum betwixt 0.01 BTC and 0.1 BTC — roughly $86 to $860 — increased 204%, and the number of those with over 0.ane BTC just less than ane Bitcoin increased 142%.
Source: glassnode
Even the number of whales with addresses over m BTC — $8.6 million at the time of writing — increased thirteen.2%, while the number of wallet sizes betwixt 100-1000 BTC — at least $860,000 — only rose half-dozen.iii%.
'Younger' wallets responsible for volatility?
During the March crypto crash, there was some speculation as to whether long-term BTC HODLers — those who had kept their crypto secure in their wallets for over five years — could have been responsible for the downturn. As Cointelegraph has reported, transactions involving coins stored for six months or less may take driven the Bitcoin market place during 2022's bullish phase and the March selloff.
Source: https://cointelegraph.com/news/smaller-bitcoin-wallets-on-the-rise-since-second-halving
Posted by: wrighthathery.blogspot.com
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