Connect with us

Crypto News

Number Of Bitcoin Addresses Holding Over 10+ BTC Reaches Two-Year High

Published

on

bitcoin wallets

Bitcoin addresses over the last couple of months have been fluctuating between accumulation and dumping. But one important fact is that there has been consistent growth in 2023 despite the market being less than a week into the new year. The important cohort here is bitcoin addresses that are holding more than 10 BTC on their balances.

Small Bitcoin Investors Want A Bigger Slice

According to a chart posted by Glassnode Alerts on Twitter, the number of bitcoin addresses holding more than 10 BTC on their balances has touched a new two-year high. This investor cohort had previously declined especially as the price of the digital asset had suffered multiple dips and crashes.

Nevertheless, this cohort regained their optimism toward bitcoin at the end of 2022. Back on December 30, just one day left for the year, the number of addresses with 10+ BTC had reached a new two-year high of 155,283 addresses after a significant jump, but only a week later, it would climb to a new two-year high of 155,286.

Addresses holding 10+ BTC reaches two-year high | Source: Glassnode

Looking at the chart above, it illustrates just how much it has risen in the last month. It works out to about a 4% increase in the number of investors that match this criterion, and it is not the only one seeing such growth.

Another cohort, addresses holding more than 1 BTC on their balances also saw tremendous growth in the new year. This time around, it reached a new all-time high of 979,707 addresses after trending around 800,000 close to the end of 2022.

What The Accumulation Could Mean For BTC

Despite the size of bitcoin making it harder to move with such accumulation trends alone, the fact that addresses holding 1+ and 10+ BTC were recording such growth has no doubt had a positive impact on the digital asset. If not moving the digital asset’s price itself, lifting investor spirits during such dreary times positively impacted the price.

Bitcoin price chart from TradingView.com

BTC price at $16,727 | Source: BTCUSD on TradingView.com

In the last 7 days, the price of bitcoin is back in the green and had seen 1.39% gains, according to data from Coinmarketcap. Losses in the digital asset in the last day have also slowed down to just 0.56%. This means BTC is still able to hold support above $16,600 while keeping the bears at bay.

BTC is currently changing hands at a price of $16,730 at the time of this writing. Trading volume is down 6.83% in the last day to be sitting at $14.4 billion.

Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from Zipmex, chart from TradingView.com

Source link

Continue Reading
Click to comment

Leave a Reply

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

Crypto News

BitPay Announces Partnership With MoonPay – Bitcoin Magazine

Published

on

Bitcoin And Artificial Intelligence Frees Your Time - Bitcoin Magazine


BitPay and MoonPay, leading bitcoin and cryptocurrency payments infrastructure providers, have partnered “to provide BitPay users with significantly increased ways to buy cryptocurrency instantly, and at great rates.”

“BitPay’s unique marketplace experience also presents multiple rates for buyers, ensuring they receive the best possible price for their cryptocurrency purchases,” the press release states. “Additional benefits of the integration include fast delivery to any owned wallet address, as well as the ability for buyers to pay with their preferred method, including credit card, debit card, Apple Pay, Google Pay or a variety of local bank transfer methods.”


Source link

Continue Reading

Crypto News

Why Real Regulatory Change In Crypto Has Not Happened

Published

on

Why Real Regulatory Change In Crypto Has Not Happened



Legislators need to educate themselves on Web3 if they care about protecting consumers, Steven Eisenhauer, chief risk and compliance officer at Ramp, writes.


Source link

Continue Reading

Crypto News

South Korea to deploy cryptocurrency tracking system in 2023

Published

on

South Korea to deploy cryptocurrency tracking system in 2023


The Ministry of Justice in South Korea announced plans to introduce a crypto-tracking system to counter money laundering initiatives and recover funds linked to criminal activities.

The “Virtual Currency Tracking System” will be used to monitor transaction history, extract information related to transactions and check the source of funds before and after remittance, according to local media outlet khgames.

While the system is slated to be deployed in the first half of 2023, the South Korean ministry shared plans to develop an independent tracking and analysis system in the second half of the year. A rough translation of the ministry’s statement reads:

“In response to the sophistication of crime, we will improve the forensic infrastructure (infrastructure). We will build a criminal justice system that meets international standards (global standards).”

The South Korean police previously established an agreement with five local crypto exchanges to cooperate in criminal investigations and ultimately create a safe trading environment for crypto investors.

Related: South Korean prosecutors request arrest warrant for Bithumb owner: Report

The South Korean Supreme Court ruled that crypto exchange Bithumb must pay damages to investors over a 1.5-hour service outage on Nov. 12, 2017.

The finalized ruling from the supreme court ordered damages ranging from as little as $6 to around $6,400 be paid to the 132 investors involved.

“The burden or the cost of technological failures should be shouldered by the service operator, not [the] service users who pay commission for the service,” the court stated.


Source link

Continue Reading

Trending