- Cryptocurrency wallets storing 10 or more BTC grew 71% in little over a year.
- As per on-chain data, 10,279 new BTC wallets joined the group of holding 10+ bitcoin between February 2022 and March 2023.
- Wallets with 10-100 bitcoin cumulatively possess more than 4.4 million BTC, or approximately 23% of supply.
Despite the bear market of 2022 which saw a rapid spread of negative sentiment across the industry, the amount of addresses with 10+ bitcoins continued to increase. Wallets in this category rose by 71% between February 2022 and March 2023.
10.3k wallets with 10+ BTC added since February 2022
The most recent data from crypto analytics platform Santiment reveals that the number of addresses with over 10 BTC have grown by 10,279 since February 2022.
As per the data, overall bitcoin holdings within this cohort have been quite stable. However, a 71% increase in the quantity of addresses during the last year or so sees these wallets’ total holdings approach the all-time highs reached in 2019.
At present, 155,000 wallets hold 10 or more BTC, merely 2,000 less than the record high of September 2019, Santiment tweeted on Thursday.
🦈🐳 Since February ’22, the number of addresses owning 10+ #Bitcoin has ballooned by 10,279, a +7.1% increase. The overall percentage of available $BTC held by these wallets is quite static, but the amount is nearing the Sep, 2019 #AllTimeHigh. https://t.co/LdyvWujeAH pic.twitter.com/pMkd6lbT4d
— Santiment (@santimentfeed) March 29, 2023
Examining bitcoin distribution data as of 30 March, approximately 139,864 wallets have 10-100 bitcoin, with total holdings of over 4.43 million coins making up 23% of supply. Another 14,033 wallets currently hold 100-1000 BTC, accounting for just over 20% of supply at 3.9 million BTC.
On-chain data also displays the biggest whales, with 1k-10k bitcoin and 10k-100k BTC holdings, amounting to 1,906 and 112 respectively. Combined, these wallets hold about 6.9 million coins to account for roughly 35% of bitcoin supply.