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Monday, February 6, 2023

Non-Whale Investors Of Bitcoin Breaks A New Bitcoin Accumulation Record

Following the FTX crash, bitcoin accounts that can store up to ten BTC have been amassing record quantities of btc.

According to on-chain statistics, investors appear to have got no problems with the crypto bearish trend or the worry, uncertainty, & doubt (FUD) that surrounded the demise of FTX.

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As per a research published by the blockchain analytics company Glassnode on November 27, smaller individual investors have grown more enthusiastic on BTC and so have begun amassing more BTC.

The data indicates that there’s at least 2 categories of consumer Bitcoin investors who have been stockpiling the record number of BTC since FTX’s demise.

Shrimp traders are those who possess less than one Btc, which is valued at $16,500 now while we are writing these. Crab traders are those who have up to ten Bitcoins, which is valued at $165k at the moment.

Non-Whale Traders Of Bitcoin Breaks A New Record:

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Despite the FTX crisis in early Nov, “Shrimp” traders were said to have been added 96.2k BTC ($1,6 bn) to their accounts, which is a “all-time high balance rise.” According to Glassnode, this group of investors has 1.21 mn Bitcoin, or $20 bn, which is equal to 6.3 percent of the 19.2 mn bitcoins that are now in circulation.

Over the previous 30 days, “crabs” have purchased around 191,600 Bitcoin, or $3.1 bn, also representing a “compelling all-time high,” according to the researchers. The latest milestone has surpassed the former BTC accumulating record set by crabs in Jul 2022, when 126k BTC, or $2 bn, were purchased each month at its peak.

While huge Btc investors have already been liquidating, crabs as well as shrimp have already been acquiring record quantities of Btc. Glassnode reports that during the previous month, Bitcoin whales reportedly given up roughly 6.5k BTC, or $107 mn, to swaps. This is still a relatively minor amount of their overall ownership of 6.3 mn BTC, or $104 bn.

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