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Addresses Holding 100 To 1,000 BTC Jumps 1.9%
A recent report from Santiment showed that the number of addresses holding between 100 and 1,000 BTC on their balances had grown in the past five weeks. A reported 254 new addresses had increased their holdings to join this category of whales, who now hold about 21.3% of the total bitcoin circulating supply.
BTC price trading north of $61K | Source:The 254 new addresses represent a 1.9% increase in the number of these whale holders, signaling more accumulation sentiment among bitcoin investors in the recent weeks. It is one of the fastest whale address growth in the history of the digital asset and as buy pressure continues to mount, it is expected that more addresses will add to their holdings to get above 100 BTC.
“The number of addresses holding between 100 to 1,000 has grown substantially over the past five weeks. 254 more of these whale addresses now exist compared to five weeks ago, which is a notable 1.9% increase in this short time period. The number of addresses holding between 100 to 1,000 has grown substantially over the past five weeks. 254 more of these whale addresses now exist compared to five weeks ago, which is a notable 1.9% increase in this short time period.” – Santiment report
Majority Of Bitcoin Holders Are In Profit
The profit margins seen from bitcoin investors have contributed to the accumulation patterns witnessed in the asset. Glassnode reported that the majority of bitcoin holders are in profit given the recent price surge. It is estimated that 99.02% of the entire circulating supply of BTC is in profit.Related Reading | Strike Launches New Feature To Allow Users Convert Salaries To Bitcoin
With bitcoin only about $3,000 less than its previous high, the analytics firm reported that there is only 0.98 BTC left in circulation that was spent at a higher price. These are the coins that were spent by investors between the $62K to $64K price ranges, and with the price of the digital asset targeting new all-time highs, it may not be long until 100% of BTC in circulation are held at a profit.Featured image from Analytics Insight, chart from TradingView.com