• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
Glassnode reports one million Bitcoin addresses now holding 1 BTC or more

Glassnode reports one million Bitcoin addresses now holding 1 BTC or more

user avatar

by Max Nevskyi

2 years ago


Over the past year, as Bitcoin prices dropped, convicted buyers have taken advantage of the opportunity to purchase the cryptocurrency at a low cost. As a result, the number of Bitcoin wallet addresses holding at least one whole Bitcoin has now exceeded one million, reaching this milestone on May 13, as reported by Glassnode data.

Bitcoin график

Number of Bitcoin wallets holding more than 1 Bitcoin since inception

The price of Bitcoin experienced a significant decline of over 65% last year. Despite this, the number of wallet addresses holding at least one Bitcoin increased considerably, particularly during a severe market crash in June and following the collapse of FTX and its subsequent bankruptcy filing on November 11.

From early February 2022, as the value of Bitcoin declined from its peak in November 2021, approximately 190,000 new "wholecoiners" were added to the network.

According to Negentropic, the co-founder of Glassnode, a good time to buy Bitcoin is when there is chaos and instability in the market.

He recently shared this advice with his 54,000 Twitter followers, citing the recent collapse of several major banks in the United States and the possibility of the Fed pausing interest rate hikes as contributing factors. Despite these challenges, Glassnode remains optimistic about Bitcoin's future and predicts that its price could rise to $35,000 in the medium term.

Although reaching the milestone of one million Bitcoin wallet addresses is significant, it's important to note that not every address necessarily corresponds to a single individual. Some crypto investors hold multiple Bitcoin addresses, while others belong to prominent institutions such as cryptocurrency exchanges and investment firms that often possess substantial amounts of Bitcoin.

As per the data provided by CoinGlass, around 1.89 million Bitcoin, which is valued at $50.7 billion, are currently held on major centralized exchanges like Binance and Coinbase out of the total 19 million Bitcoin that are in circulation.

График Bitcoin

The total number of Bitcoin held on centralized exchanges

It has been estimated by Glassnode that a massive 3 million BTC, which is currently worth $80.4 billion and constitutes 17% of the entire circulating supply of Bitcoin, is considered to be permanently lost. This figure is derived from various data sources including Bitcoin sent to "burn addresses," wallets with lost private keys, and large accounts that have remained inactive for over a decade.

0

Share

Other news

Binance Adjusts Collateral Ratios for Various Cryptocurrencies

Binance has announced a reduction of collateral ratios for CAKE, IOTA, and AXS, impacting user trading strategies.

user avatarGiorgi Kostiuk

7 minutes ago

US-China Negotiations in Switzerland: Tariff Reduction Prospects

Economic talks between the US and China in Switzerland aim to ease trade tensions and enhance global market stability.

user avatarGiorgi Kostiuk

8 minutes ago

SUI Price Outlook: Will It Reach $5 Soon?

SUI shows bullish momentum, breaking key resistance levels. What can investors expect moving forward?

user avatarGiorgi Kostiuk

9 minutes ago

Solana: Price Reaches Critical Resistance at $180 with Potential Rise to $510

Solana (SOL) approaches a critical resistance level at $180 with a recent increase of 20% in the past week. Analysts assess the potential rise to $510.

user avatarGiorgi Kostiuk

9 minutes ago

Mexico's Legal Action Against Google over Gulf of America Naming!

Mexico has initiated legal action against Google for renaming the Gulf of Mexico as the Gulf of America, highlighting geopolitical tensions.

user avatarGiorgi Kostiuk

10 minutes ago

Qubetics: A New Player in the Crypto Market and Its Potential in 2025

Qubetics in 2025: an overview of new prospects in the crypto market and a comparison with the history of BNB.

user avatarGiorgi Kostiuk

10 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

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.