Bitcoin Accumulation Continues as Holders Reach New ATH

Bitcoin-Accumulation-Continues-as-Holders-Reach-New-ATH
  • On-chain crypto analytics firm revealed that number of addresses with 0.01+ BTC reached a new all-time high.
  • This new milestone suggests that investors are continuously amassing more BTC into their portfolios.
  • BTC’s trading volume also surged 44.34% over the last 24 hours.

New data from crypto data and intelligence platform Glassnode revealed that the number of addresses holding 0.01 or more worth of Bitcoin has reached a new all-time high of 10,826,354 unique addresses.

In a tweet, the on-chain data analytics firm shared an image of a metric showing Bitcoin’s number of addresses holding 0.01+ coins from 2010 to the present. The most recent all-time high was recorded on October 25th, where 0.01 or more BTC holders reached 10,823,836.

According to the chart, the first one million unique addresses with 0.01+ BTC were reached in around 2015. Since that moment, more and more holders have started to accumulate more than 0.01 worth of the largest cryptocurrency within their platforms. This new milestone signifies that more investors are amassing a much greater amount of Bitcoin at some point.

On October 20th, the CEO of an on-chain analytics firm, Ki Young Ju, shared a chart in a tweet that shows the crypto exchanges that dominates the Bitcoin spot trading volume by the time it hits the $20k level.

As per the Cryptoquant CEO, BTC’s overall spot trading volume in all crypto exchanges increased 20 times over the last six months. Based on the data, Young Ju also concluded that whales began accumulating Bitcoin.

At the time of writing, the leading cryptocurrency shows consistency and is currently trading at $20,362.31, down 0.84% over the last 24 hours, according to CoinMarketCap. Meanwhile, Bitcoin’s trading volume surged 44.34% over the last 24 hours.

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