How Bitcoin shrimps emulated whales in aggressive accumulation

AMBCrypto
AMBCrypto

30 Jun 2023 10:30 AM

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.

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You May Ask

What is the current trend in addresses holding less than 1 BTC?How much have the number of addresses in the "Crabs" cohort increased?What is driving the surge in addresses?What is the transaction activity like on the Bitcoin network?What is the sentiment of seasoned Bitcoin investors towards accumulation and holding?

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