Home Market Bitcoin shrimps holdings jump to 1.31 million BTC

Bitcoin shrimps holdings jump to 1.31 million BTC

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  • Bitcoin wallets under 1 BTC now hold an all-time high of 1.31 million coins.
  • According to data, Shrimp adds an average of 26,000 BTC each month.
  • Shrimp population growth is a positive development for the Bitcoin network.

The amount of Bitcoin held by “shrimp” (a wallet entity currently holding less than 1 BTC) has reached an all-time high.

according to data From Glassnode, Shrimp increased its total holdings to 1.31 million BTC. This cohort has witnessed a gradual increase in holdings over the past few months.

Shrimps is increasing its holdings by +26,000 BTC every month

According to data shared on Twitter by Glassnode, the shrimp population will expand significantly in 2023. This was a similar trend last year, with this group of buying coming in despite the massive volatility that hit the market.

Specifically, Shrimp added over 26,000 bitcoins each month. Since July 2020, only 202 working days (3.9%) have recorded a higher monthly growth rate.

This suggests that the declines seen during the bear market are offering investors the opportunity to buy bitcoin at lower prices, and that retail investors are willing to accumulate bitcoin. is.

The graph below shows the growth in the amount of BTC held by wallet addresses with less than 1 Bitcoin. As you can see, holdings of these companies increased significantly in June/July 2022, and then again in November/December and January 2023.

The metric suggests that retail investors are confident in the growth and long-term potential of the cryptocurrency, so an increase in small holders is positive for the long-term health of the Bitcoin network. becomes.

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