Bitcoin Addresses with Less than 100 BTC Now Hold 41.1% of the Total Supply
New data from on-chain analytics firm Santiment reveals a significant shift in the BTC market. The “Supply Distribution” indicator shows the percentage of Bitcoin supply held by different investor groups. Investors are categorized based on the number of coins they hold in their wallets.
The focus is on addresses holding less than 100 BTC, which equates to about $2.6 million. The chart displays the combined Bitcoin Supply Distribution for this specific group, known as “non-whale” investors.
Increase in Non-Whale Addresses’ Holdings
While whale addresses hold large amounts and have influence in the market, non-whale addresses make up the majority. Recent data shows that non-whale entities have been increasing their share of the Bitcoin supply.
Santiment reports that since October, non-whale addresses have added 2.4% to their holdings, reaching a new all-time high of 41.1%. On the other hand, whale addresses (holding 100 to 100,000 BTC) have sold around 0.9% of their supply since June, reducing their total holdings to 55.5%, the lowest since May.
Impact on Bitcoin’s Price and Decentralization
The selling activity from whales may raise concerns about short-term price fluctuations. However, the shift in supply towards regular-sized investors could be positive for Bitcoin as it reduces the influence of whales in the market.
Although whales still own most of the supply, this trend suggests a potential move towards decentralization. If it continues, non-whale entities may gain more control over time.
BTC Price Update
Bitcoin’s price recently dipped below $27,000 and is currently hovering around $26,600.
Hot Take: Non-Whale Addresses Gain Ground in Bitcoin Supply Distribution
The latest data from Santiment shows a notable shift in the Bitcoin market. Non-whale addresses, holding less than 100 BTC, have increased their share of the total supply to a new all-time high of 41.1%. In contrast, whale addresses have been selling off their holdings, reducing their percentage to 55.5%, the lowest since May. This shift towards regular-sized investors may lead to a more decentralized market and diminish the influence of whales. While short-term price fluctuations may occur due to whale activity, the long-term outlook suggests a positive trend for Bitcoin.
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