Distribution of bitcoin wallets, • Blockchain wallets, per day | Statista
Retail Accumulation? Number of Bitcoin Addresses With One or More Coins Sees Solid Rise A key on-chain metric has witnessed growth over the past 12 months, possibly indicating steady accumulation of bitcoins by retail traders.
As of Jan. The number has more than doubled since early Subscribe to Blockchain Bitesour daily update with the latest stories. For instance, three of the top five addresses on the rich list, published by bitinfocharts.
Meanwhile, the number of addresses with balances between 0. These small balances, however, are may be residuals from large transactions or holdings of one time users.
Retail accumulation, as represented by the growth in the number of addresses with one or more coins, has remained solid over the years despite price gyrations. This type of investor behavior is seen in the gold market.
The yellow metal, a classic safe haven asset with a strong store of value appeal, generally finds takers across the globe regardless of the short-term price trends.
Yet, many observers, including the likes of billionaire investor and Bridgewater Associates founder Ray Binary option check, are of the opinion that bitcoin is simply too volatile to become a proper alternative as a store of value.
As of December, investors with 1, to 1 million bitcoins held Also, the rise in the number of unique addresses does not necessarily mean an influx of new investors into the market.
After all, a single investor can hold 1, BTC in 1, addresses or more, so the metric has its limits.
Thus the rise in the number of addresses with a balance of one or more bitcoins does not necessarily imply increased participation in the market. Read more about CoinDesk is an independent operating subsidiary distribution of bitcoin wallets Digital Currency Groupwhich invests in cryptocurrencies and blockchain startups.