An all-time high of 40.16 million bitcoin addresses came to light. Bitcoin addresses slightly increased at least 7% since May 2021.
Immediately after the high peak in the Bitcoin price, a prominent reduction impacted addresses with non-zero balances, like the adjustment that took place right after the top of December 2017 and, on a less prominent scale, the one that happened in May 2021.
According to the most recent report made by the analytical firm Glassnode, since the low rate registered last May, of 37.58 million active addresses, their growth has gained sustainability, and, to the date, the figure circles 40.16 million.
Within the framework of this growth in active addresses with non-zero balance, those addresses with less than 1 BTC do not present any damage generated by a correction. According to the report, these addresses are still alive due to their sustained growth.
The rise of Retail Investor Portfolios is a Real Thing
The portfolios under investors’ hands are called shrimp. Those Shrimps that carry out activities with less than one Bitcoin handle with a procedure that has not been affected by a previous adjustment. The rate of growth for this cohort went through at least two macro increases: The first one happened after March 2020, and it repeated the process in May 2021.
There are two declining changes in the growth of portfolios that has less than one bitcoin: In March 2020, after the apparition of the Covid 19 pandemic and its subsequent outbreak, and in May 2021, when the most prominent bitcoin price adjustment of that year happened.
According to previous reports, at the beginning of 2018, the amount of supply in wallets with less than 1 BTC showed less than 3%. Four years later, wallets that carry on less than one bitcoin surpassed 5% of the current supply.
A brief retraction in the bitcoin price took place in November 2021 but before, a prominent bull run started and skyrocketed the bitcoin prices high above the all-time high peaks of December 2017. The analyst Willy Woo explained that a sudden increase in BTC purchases by shrimps could happen soon.
The well-known analyst Willy Woo highlighted that, along with the recent adjustment on the price of the first cryptocurrency, there was considerable buying behavior coming from smallholders. These purchasing behavior aimed at taking advantage of the low prices of bitcoin.
In November 2021, the price of the first cryptocurrency went through a slight decline that reached a point registered at 15%, as it went from USD 65,500 to USD 55,713 on Thursday 18. After a rebound, the price fluctuated around USD 59,000.
By: Jenson Nuñez
