How Bitcoin shrimps emulated whales in aggressive accumulation
Bitcoin's retail investors were decisively leading the accumulation activity among long-term holders of the coin. ...
- Addresses holding less than 1 BTC, known as "Shrimps," have surged three times since the recent rally began.
- The number of addresses in this cohort is currently over 331k, the highest ever recorded.
- "Crabs," investors holding between 1-10 BTC, also saw a threefold increase in addresses.
- The surge in addresses was driven by old addresses that were active but not participating in transactions.
- This suggests that long-term holders are accumulating BTC in anticipation of further price growth.
- Transaction activity on the Bitcoin network remained low, with a drop in the total amount of coins transferred.
- Seasoned Bitcoin investors showed a stronger desire to accumulate and hold, despite the opportunity for short-term gains.
The article provides positive sentiment towards the surge in addresses holding less than 1 BTC and the accumulation trend among long-term holders. It also highlights the strong desire of seasoned Bitcoin investors to accumulate and hold, despite the low transaction activity.