Record increase in crypto addresses of at least 10 bitcoins (BTC)!

Although it has its ups and downs, bitcoin (BTC) continues to attract the interest of investors. Data related to Bitcoin ETF applications is the highlight of this trend observed in recent weeks. Several experts had already estimated that this dynamic should consolidate.

Record increase in BTC wallets holding at least 10 BTC

The price of bitcoin (BTC) collapsed by 3.72% over the past week. The flagship crypto is currently worth $26,875 after its valuation increased by 0.04% over the last 24 hours. Will this start of an upward trend consolidate? Nothing certain.

On the other hand, crypto data provider Santiment released a study which suggests that bitcoin (BTC) is on a roll. In a recent report, the platform reports a record increase in crypto wallets hosting at least 10 bitcoins (BTC).

According to Santiment, exactly 157,400 wallets currently hold 10 BTC or more. This figure represents an impressive 8.12% growth in these crypto storage tools, since February 2022.

But this trend, as the crypto data provider points out, has been underway for at least twenty months. Over this period, 11,806 addresses joined the ranks of those holding more than 10 BTC.

Individual investors, very active in the bitcoin market?

We already knew that bitcoin (BTC) was particularly attractive to institutional investors. We have seen this with the news surrounding the wave of requests for spot Bitcoin ETFs submitted to the SEC in recent weeks.

What this new data provided by Santiment tells us is that this trend also affects individual investors. It confirms the resilience of the accumulation of bitcoins by individuals.

The steady increase in the number of addresses holding one or more bitcoins suggests unwavering participation by retail investors in the market. This, even though the price of crypto remains volatile.

However, it is essential to note that this increase in the number of addresses does not necessarily equate to increased participation in the market. Santiment notes that some of these small balances could be related to substantial transactions or single holdings. They nevertheless remain in agreement with the outlook announced by analysts on bitcoin as the halving is fast approaching.

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