U.Today – In a significant milestone in the cryptocurrency market, the number of addresses holding more than one BTC has surpassed one million.
According to IntoTheBlock’s latest report, there are currently 1,010,777 such addresses, which is a significant achievement in the Bitcoin ecosystem.
IntoTheBlock, a blockchain analytics platform, highlighted this milestone in a chart illustrating the growing trend of individuals and entities accumulating Bitcoin to achieve wholecoiner status. The term “wholecoiner” refers to people who own at least one whole Bitcoin, a status increasingly coveted by investors.
The data shows a clear long-term trend: more and more people are trying to become cryptocurrency wholesalers.
This trend reflects broader adoption and confidence in Bitcoin as a store of value and investment asset. The growing number of people engaging in wholesale trading is evidence of growing confidence in Bitcoin’s potential for long-term growth and stability.
IntoTheBlock’s analysis indicates that this upward trend is not a short-term phenomenon, but a eternal movement. Over the years, as Bitcoin has matured, the number of addresses holding at least one BTC has steadily increased.
What does it mean
Reaching over one million wholesale cryptocurrencies is particularly crucial in the context of Bitcoin’s circumscribed supply. With only 21 million Bitcoins mined to date, holding on to even one Bitcoin becomes increasingly valuable as demand continues to grow. This scarcity factor further highlights the importance of the milestone in the monetary industry.
Bitcoin has fallen about 17% since hitting a record high of nearly $74,000 in mid-March amid growing optimism about the approval of U.S. exchange-traded funds to directly hold the original cryptocurrency.
At the time of writing, Bitcoin has increased by 0.04% in the last 24 hours to $61,592. The melancholy in the markets is deepened by the change in expectations for interest rate cuts in the US, which has reduced demand for the riskiest assets.
