Bitcoin

<h2 id="quick-take">Quick Take</h2> 
From March 2020 to September 2023, the landscape of Bitcoin entity balance dominance witnessed a notable shift. The ‘shrimp’ class, entities holding less than 1 Bitcoin, saw their dominance rise from 3.5% to 6.9%, indicating a growing number of small-scale investors. Similarly, ‘crab’ entities holding 1-10 Bitcoins surged from 8.2% to 10.9%, reinforcing this trend. 
<figure style="width: 100%" class="wp-caption alignnone"> 
 <img src="https://pbs.twimg.com/media/F6iYzGpWYAA5Zwq?format=jpg&amp;name=large" alt="Balance Dominance: (Source: Glassnode)" width="1800" height="1013"> 
 <figcaption class="wp-caption-text">
 Balance Dominance: (Source: Glassnode) 
 </figcaption> 
</figure> 
A slight decrease was observed among ‘fish’ entities (10-1000 Bitcoins) from 17.1% to 16.9%, and a more significant drop among ‘sharks’ (1000-10000 Bitcoins) from 18.4% to 16.6%. However, the ‘whale’ entities holding over 10,000 Bitcoins increased their dominance from 35.3% to 36.9%, suggesting a continued concentration of wealth at the higher end. 
Both mining and exchange entities saw their dominance reduce, with miner dominance dropping from 9.9% to 9.3% and exchange dominance plummeting from 17.3% to 11.7%. This indicates a reduction in their relative sell pressure over time. 
These shifts in balance dominance reflect the dynamic Bitcoin market where smaller investors are increasing, yet the vast wealth remains concentrated among the larger entities. 
<figure style="width: 100%" class="wp-caption aligncenter"> 
 <img src="https://pbs.twimg.com/media/F6iaNavXMAAOv3s?format=png&amp;name=small" alt="Balance Dominance: (Source: Glassnode)" width="516" height="192"> 
 <figcaption class="wp-caption-text">
 Balance Dominance: (Source: Glassnode) 
 </figcaption> 
</figure> 
The post <a rel="noopener noreferrer nofollow" href="https://cryptoslate.com/insights/shrimp-and-whales-surge-ahead-in-shifting-bitcoin-balance-landscape/">Shrimp and whales surge ahead in shifting Bitcoin balance landscape</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptoslate.com">CryptoSlate</a>.

Shrimp and whales surge ahead in shifting Bitcoin balance landscape

Indice dei contenuti

CryptoSlate

Altri articoli pubblicati su 23 set 2023

Trader Says Dogecoin Rival Has Additional Upside Potential, Updates Outlook on Bitcoin and Worldcoin

Over $440,000,000,000 in Bitcoin and Other Cryptos Could Be Wiped Out Before Market Bottoms Out: ...

Base surges past Solana as total value locked nears $400M

OpenSea’s Security Incident: What NFT Enthusiasts Need to Know

JPMorgan Report: Ethereum’s Shanghai Upgrade Disappoints

Chainlink Price Prediction: LINK Price On The Verge Of A Breakout?

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!