Polkadot Price Upcoming Move As The Bears Emerge.
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2020-11-27 | Mike Hallen
A recent study conducted revealed that the “wholecoiners” - Bitcoin wallets holding over 1 BTC or more - now account for 95% of the cryptocurrency’s entire cap. That leaves just 5% of the market cap divided among tens of several users with a balance below 1 BTC.
The total number of wholecoiner addresses has steadily hiked year-over-year since 2009, despite BTC's astronomic price rallies. Recently on 27th Nov., Glassnode CTO Rafael Shultze-Kraft tweeted a chart revealing that over 800k addresses presently hold a min of 1 BTC.
As per Bit Info Charts, wholecoiner addresses represent around $301 Bln worth of BTC. Against this, the present combined value of less-than-wholecoin addresses is $16 Bln.
A linear chart reveals few retracements within the history of wholecoiners, with a major dip coming in early 2016 when the number of addresses holding a min of 1 BTC fell by 13.5%, from 520k to 450k.
The year 2018 also saw wholecoiner growth stagnate, with the number of addresses oscillating between roughly 720k and 690k for 12 months from December 2017.
In line with ‘Into The Block’, 32.95 Mln Bitcoin addresses presently hold some value of BTC, suggesting that wholecoiners represent just 0.47% of balance-bearing Bitcoin wallets.
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