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

Plex Media Server Vulnerabilities Exploited for Cryptojacking

Attackers are exploiting vulnerabilities in Plex Media Server to install unauthorized cryptocurrency miners and a Linux proxy backdoor.

user avatarTomas Novak

Super League Shareholders Approve Metaplanets Bitcoin Treasury Proposal

Super League shareholders approved a proposal for Metaplanets to contribute 2,100 BTC and $25 million to a new US-listed Bitcoin treasury platform.

user avatarKaterina Papadopoulou

Sophon Sets Withdrawal Deadline Ahead of Mainnet Shutdown

Sophon has set a deadline for users to withdraw their assets by November 25 ahead of the shutdown of its standalone chain.

user avatarMaya Lundqvist

Large Hyperliquid Trader Rebuilds Ethereum Short After Significant Losses

A trader on Hyperliquid rebuilt a substantial Ethereum short position worth approximately $16 million after incurring losses of around $469,000.

user avatarLeo van der Veen

Tron Surpasses Ethereum and Solana in Blockchain Fee Revenue

Tron has generated approximately $234 million in chain revenue over the past 30 days, surpassing Ethereum and Solana.

user avatarLi Weicheng

New Reporting Requirements Proposed for Crypto Holders in France

A proposed amendment would require crypto holders to declare self-custodied assets worth over €100,000, with penalties for non-compliance.

user avatarTenzin Dorje

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.