According to the blockchain data platform Glassnode, the total number of Bitcoin addresses owning 1,000 BTC or more has plunged to its 2019 levels.
The entity revealed that currently, there are just 1,997 addresses holding over $26.4 million worth of the primary cryptocurrency (calculated at current prices).
#Bitcoin $BTC Number of Addresses Holding 1k+ Coins just reached a 4-year low of 1,997
View metric:https://t.co/cjV0krRVgK pic.twitter.com/rTK0gzZ90E
— glassnode alerts (@glassnodealerts) September 26, 2023
The downtrend has been evident since the prolonged bear market began last year when the industry witnessed the Terra crash and the subsequent collapses of Celsius Network and Three Arrows Capital (3AC).
The environment’s conditions worsened towards the end of 2022 when the former crypto giant FTX experienced a liquidity crisis and filed for bankruptcy, triggering multi-billion investor losses.
Somewhat expectedly, Bitcoin addresses holding over 1,000 BTC were on the rise du
We współpracy z: https://cryptopotato.com/bear-market-effect-bitcoin-addresses-holding-over-1000-btc-drop-to-a-4-year-low/
