Wallets on the Rise
Despite a nosedive in crypto prices, the number of crypto wallets boasting at least one Bitcoin (BTC) is hitting record numbers. Data from blockchain analytics powerhouse Glassnode reveals that on March 11, the count of addresses holding one or more bitcoins soared to a jaw-dropping all-time high (ATH) of 795,630. That’s right, folks—there’s a party of Bitcoin holders, and it’s getting bigger!
Breaking Down the Data: More Than Just Numbers
Sneaking past the previous record of 795,300 set just a day earlier, this growth has been remarkable. Since March 2019, Bitcoin wallets with one or more bitcoins have increased by over 60,000. Being just shy of 800,000 addresses has certainly added some pep to crypto enthusiasts’ step. However, these numbers aren’t just a delightful statistic; they reflect a more significant trend.
Non-Zero Addresses and Retail Investors
March 10 wasn’t all bad news; Glassnode also reported that the total number of non-zero Bitcoin addresses skyrocketed past 29 million. This uptick in wallets indicates a rising interest among retail investors. Funny how losing money can lead to a surge in participation, right? It’s the ultimate case of “if you can’t beat ’em, join ’em.”
The Divide: From Retail to Whale
While interest from retail investors is surging, there’s a disparity within tiers of Bitcoin holders. The number of users with over 10 bitcoins is increasing, but those heftily invested with 100 or more bitcoins have started to dwindle. Moreover, the whales—those holding more than 1,000 bitcoins—are clinging steady, perhaps waiting for the ideal moment to pounce. It’s kind of like watching a game of poker where everyone’s holding their cards close to their chest.
A Silver Lining in a Sea of Red
On March 12, Bitcoin’s plummet to 10-month lows of $5,720 may have been disheartening, yet some are celebrating the opportunity to finally own 1 BTC. Like finding a half-eaten pizza at a party, it may not be perfect, but it’s still something! Meanwhile, skeptics on social media aren’t holding back, predicting a more extended slump. Conversations have become increasingly bearish as people brace for what they call the second “Black Monday” of the week.
