Bitcoin is on the verge of achieving a significant milestone as it approaches one million addresses that hold one bitcoin or more. This is one person that owns at least $28,300 worth of digital assets at the time of the writing.
Almost 1 million active Bitcoin addresses
The growth in the number of addresses of “crabs” (addresses that hold between 1 BTC and 10 BTC) is exponentially growing. A group referred to as “shrimps” (addresses that hold less than 1 BTC), are currently accumulating Bitcoin at a remarkable rate as well.
This is encouraging news for Bitcoin holders as it signifies a shift in the distribution of the cryptocurrency. Over the years, the number of Bitcoin addresses holding one BTC or more has been steadily increasing, and now it is close to hitting the one-millionth mark.
Number of Bitcoin addresses called Crabs, source: glassnode.com
This cohort of Bitcoin holders, also known as “crabs,” has experienced exponential growth, which is a testament to the increasing adoption and interest in Bitcoin.
Additionally, the cohort just below them, known as “shrimps,” has been accumulating Bitcoin at the third most aggressive rate in the past five years, indicating that more people are buying and holding the cryptocurrency.
Number of Bitcoin addresses called Shrimps, source: glassnode.com
The growth in the number of Bitcoin addresses holding one BTC or more is a significant milestone that reflects the growing interest and adoption of digital assets.
With more “shrimps” becoming the “crabs,” it suggests that Bitcoin’s distribution is becoming more decentralized, which is a positive sign for the cryptocurrency’s long-term growth and stability.
Overall, this achievement highlights the increasing mainstream acceptance of Bitcoin and its potential to become a viable alternative to traditional currencies.