Increase in Bitcoin Wallets and Investor Confidence Growth

user avatar

by Giorgi Kostiuk

2 years ago

Small-scale investors continue accumulating bitcoins, leading to an expected 9% growth in wallets holding less than 1 BTC.

Shrimp Wallets Growth Trend

Shrimp wallets reflect investor confidence despite Bitcoin reaching a price of $101,549. A further increase of 8.67% in addresses is anticipated in the near term.

"Given the current trend, I expect the number of addresses to rise further, reaching 351K in the near future," CryptoQuant analyst Axel Adler noted.

Market Analysis of Long-Term Holders

Long-term holders have started selling, realizing 827,783 BTC over the past 30 days, potentially signaling a market top.

Potential Market Impact

Despite recent selling, future price declines are expected to be less abrupt due to a decrease in selling pressure.

"With such a decline in sell-side pressure, we can expect future declines to be less abrupt than last week's 10% plunge," Bitfinex analysts comment.

Amidst small-scale investor accumulation and long-term holder strategies, the future of the cryptocurrency market remains uncertain.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

HSBC Introduces RedCoin for Consumer Payments

HSBC has launched RedCoin, a stablecoin backed by the Hong Kong dollar, for consumer payments through its PayMe app.

user avatarLucas Weissmann

CME Group Achieves Record Revenue and Trading Volume in Q3

CME Group reports a remarkable 13% increase in Q3 revenue, reaching $17.373 billion, with an average daily trading volume of 294 million contracts.

user avatarFilippo Romano

Zcash Investment Product Sees Significant Inflows

Demand for the Zcash investment product tracked under ticker ZCSH surged on October 21, marking a notable recovery after earlier withdrawals.

user avatarEmily Carter

BTCPay Server Documentation Guides Merchants on Payment Integration

BTCPay Server provides documentation for merchants on how to connect its payment system to WooCommerce, emphasizing the importance of maintaining all components.

user avatarTomas Novak

Colombian Crypto Broker Sentenced to 160 Months for Money Laundering

Colombian crypto broker Leonardo de Jesus Zuluaga Duque sentenced to 160 months for laundering $145 million in drug proceeds through cryptocurrency.

user avatarKaterina Papadopoulou

Birdeye Unveils Peak, a New Terminal for Institutional Crypto Research

Birdeye has launched Peak, a new terminal aimed at institutional crypto researchers, consolidating various data and analysis services into one professional workspace.

user avatarMaya Lundqvist

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.