Market data from Glassnode shows that bitcoin holders have increased their positions by 233,000 BTC since January 1, 2020. However, when it comes to holders making money at the current price, bitcoin cash and bitcoinsv have performed better and the concentration of large holders is larger too. As far as “holders’ composition by time held” statistics bitcoin cash outshines BTC by 27% for the last twelve months.
Just a few days ago, news.Bitcoin.com’s Jeffrey Gogo reported on a Glassnode report that detailed the “number of whales with 1,000 bitcoin or more has climbed to 1,882 from around 1,650 in January.”
In addition to the increase in bitcoin whales with over 1,000 coins, Glassnode has also detailed that throughout 2020, the “Hodler net position change” chart indicates that holders scraped up 233,000 bitcoins this year.
“Despite a drop in bitcoin’s price and onchain fundamentals in week 24, the overall health of the network remains strong,” the report notes.
Back in May, it was noted that 12 months of onchain data had shown bitcoin whales obtained hundreds of BTC from small fish (new traders). However, data from the 100 richest bitcoin address list shows that whales have sold a small fraction of those coins.
On May 1, 2020, mega bitcoin whales with addresses holding 10,000 to 100,000 coins or more was around 106 addresses.
Today there are only 102 addresses who represent the mega whale category. Similarly, massively gigantic BTC whales who have 100,000 to 1,000,000 BTC were only three addresses and today it is down to two. Whales with 1,000 to 10,000 BTC on May 1, were counted at approximately 2,002 addresses and today there are 2,056.
Despite all the talk of holders within the bitcoin (BTC) community, bitcoin cash (BCH) and bitcoinsv (BSV) community members are also holding. For instance, data powered by Intotheblock, which can be found on markets.Bitcoin.com, show some interesting data for all three bitcoin branches.
In this field, BCH is the top dog, as bitcoinsv (BSV) is 2% lower than BCH at 28%. Bitcoin cash also takes the cake when it comes to “holders’ composition by time held” according to Intotheblock stats.
What do you think about the holding composition data for all three Bitcoin branches? Let us know in the comments section below.
The post Holders Gather 233K BTC This Year, While Bitcoin Cash Savers Outshine Composition by Time Held appeared first on Bitcoin News.
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