Jannat Ara

Bitcoin Distribution Dynamics: Micro Wallets Reach Record Holdings in November

In a recent update on December 18, Santiment, a prominent market intelligence platform tracking over 2,500 cryptocurrencies, revealed a significant shift in Bitcoin holdings across various wallet sizes.

Notably, wallets holding one Bitcoin or fewer have surged to a record 1.4 million Bitcoin, marking a remarkable increase and now constituting 7.3% of the total Bitcoin supply. Simultaneously, wallets with substantial holdings of 100 or more Bitcoin, commonly referred to as whales, have accumulated a collective total of 11.5 million Bitcoin. This represents a notable rise over the past few months, constituting 59.1% of the entire supply.

Meanwhile, wallets holding between 1 and 100 Bitcoin have collectively decreased slightly, currently holding 6.5 million Bitcoin, accounting for 33.6% of the total supply.

The detailed breakdown of Bitcoin distribution illustrates the evolving landscape of ownership and accumulation patterns among various-sized holders.

Additionally, during the last non-holiday weekend of 2023, the cryptocurrency market saw a modest downturn. Bitcoin, positioned around $41,600, experienced a pullback, while Ethereum (ETH) exhibited relatively resilient performance, hovering just above $2,200. This dynamic suggests nuanced movements within the crypto market, with both Bitcoin and Ethereum navigating fluctuations during this period.

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