Bitcoin Addresses with 1 BTC Surpass 830,000 as Number of Retail Investors Grows

Bitcoin

Holding of at least 1 BTC has marked new all-time high of 836,922

On-Chain Analytics Company Data glass knot indicates a significant increase in the number of Bitcoin addresses holding more than 1 BTC. Holding at least 1 BTC marked a new all-time high of 836,922.

At least according to relatively small addresses, retail investors appear to be returning to the Bitcoin market. Addresses holding at least 0.01 BTC have also been on the rise, reaching new all-time highs of 9,989,557.

Bitcoin, the world’s largest digital currency, briefly fell to $29,731 on May 10, hitting its lowest price since July 2021 while setting new yearly lows for 2022. At press time, Bitcoin was trading at $31,667, down 3.82% in the past 24 hours, per CoinMarketCap.

Bitcoin is off nearly 55% from its November all-time highs, and 47% of Bitcoin holders are now out of money or underwater, according to IntoTheBlock data In/Out of Money data.

Terra UST, for now, remains a popular discussion among cryptocurrency investors, as Terra’s Luna Foundation is built on billions of dollars in Bitcoin. TerraUSD slipped from its expected peg of $1, falling to $0.61 on May 10.

On Monday, Luna Foundation Guard said it would lend $750 million worth of Bitcoin to trading firms to “help protect the UST peg,” while a further 750 million UST will be lent out to buy more Bitcoin “as market conditions normalize.”

The company added in a follow-up tweet that it had withdrawn 37,000 Bitcoin worth over $1 billion at current rates, to be loaned out.

On a positive note, El Salvador’s president, Nayib Bukele, said the country has made another purchase of 500 Bitcoin for $15.37 million on Monday, taking advantage of a sudden price dip to add to its cryptocurrency holdings.

El Salvador has made 10 cryptocurrency purchases since adopting Bitcoin as legal tender in September. His last Bitcoin purchase was in January when he bought 410 BTC at an average price of $36,585.

admin

Read Previous

Dogecoin (DOGE) Remains Profitable Despite 30% Market Correction: Detailsx

Read Next

Crypto Downturn Shakes Digital Collectible Markets as NFT Sales Slip 42% Lower Than Last Week

Leave a Reply

Your email address will not be published. Required fields are marked *

Right Menu Icon