Bitcoin Supply Becoming Less Concentrated On Whales: Data

According to data, the concentration of Bitcoin supply on whale wallets is decreasing, meaning that more individuals are holding smaller portions of the cryptocurrency instead of a few large investors controlling a significant amount. This trend suggests that Bitcoin ownership is becoming more decentralized and accessible to the general public. As Bitcoin continues to gain mainstream adoption, this shift in ownership could have significant implications for the cryptocurrency’s value and market dynamics.

The Bitcoin supply is gradually dispersing from whales and exchanges to smaller hands, according to data from Glassnode. The on-chain analytics firm studied the distribution of the supply by breaking down investors into different groups and found that those holding less than 50 BTC have recently absorbed the most coins, with absorption rates reaching all-time highs for shrimps and crabs. This trend has held up throughout the years, with smaller entities gradually gaining dominance over the cryptocurrency’s history. Meanwhile, whales are distributing their holdings, and exchanges have negative absorption rates, releasing many coins into circulation. Despite this, Bitcoin is currently trading around $24,300, up 10% in the last week.

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