Increase in “Firm Size” Bitcoin Wallet Addresses Shows Significant Hoarding Through Crypto Winter

Increase in “Firm Size” Bitcoin Wallet Addresses Shows Significant Hoarding Through Crypto Winter



Increase in “Firm Size” Bitcoin Wallet Addresses Shows Significant Hoarding Through Crypto Winter

A recent analysis of Bitcoin activity in 2018 has illustrated how major investment in the cryptocurrency increased over what has been now tagged as “Bitcoin Winter” through a surge over the period in new wallets holding between 1,000 and 10,000 bitcoins.

Known as “Firm Size” wallets, these holdings of 20% bitcoin’s circulation increased almost 7% in under a year, with the analysis noting that these addresses now own over 26% of circulating supply, or USD 36 billion worth of BTC.

Since the crypto market’s recent crash in December 2018, when Bitcoin bottomed at USD 3,200, Bitcoin accumulation to Firm Size tier wallets has regrouped to USD 450,000, which leads the growth of any tiered wallet addresses to date.

The figures show that plenty of faith, and patience, is out there for the big hodlers, despite the predominance of negative reporting by many news agencies over the crypto winter period; a period many analysts are convinced has finally come to end with the recent rally in Bitcoin’s value. At the time of writing, Bitcoin is worth USD 8,597, almost tripling its end of 2018 rate.

The analysis, conducted by Diar, also illustrates that over 100,000 BTC has been newly minted through inflation since the start of this year representing about 40% of Firm Size wallets. The long-term trend has also been identified as encouraging in terms of such wallets reportedly consolidating half of the new market supply.

Since the beginning of the bear market in January 2018 around BTC 955,000 has been newly minted through inflation.

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Increase in “Firm Size” Bitcoin Wallet Addresses Shows Significant Hoarding Through Crypto Winter appeared first on BitcoinNews.com.





Source link