January 29, 2023

Glassnode: Small investors are increasingly buying up bitcoins

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1 min.

Glassnode: Small investors are increasingly buying up bitcoins

Glassnode analysts say that inUnlike large whale investors, investors with balances of less than 1 bitcoin (the so-called “shrimp”) added 96,200 BTC to their total holdings after the FTX crash.

This group of small investors now owns more than1.21 million BTC, which is equivalent to 6.3% of the circulating supply of bitcoin in the world, Glassnode experts say. Another category of small bitcoin holders who took the opportunity to buy the first cryptocurrency at the bottom are the so-called “crabs” with assets from 1 to 10 BTC.

This category of investors in the last 30 daysadded a total of 191,600 BTC to her total balance. For both shrimp and crabs, November purchases marked record high balance gains, with the latter surpassing the July 2022 peak of 126,000 BTC.

On the other hand, whales are balance sheet investors.more than 1,000 BTC - in November, they partially got rid of their assets in bitcoins, sending about 6,500 BTC to crypto exchanges in a month. According to analysts, this may signal a readiness for sale. But the amount is still minuscule compared to the whales' total holdings of 6.3 million BTC. Experts note that a significant number of investors have kept and keep bitcoins in cold wallets, as trust in centralized exchanges has been greatly shaken.

Last week, analyst Benjamin Cowen warned about the coming fall of bitcoin. After which growth will follow.