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According to Santiment, Bitcoin wallets holding one or fewer BTC have reached their highest coin count ever, a surge in accumulation since November.
Santiment, a market intelligence platform with on-chain and social metrics for more than 2,500 cryptocurrencies, took to X on Dec. 18 to share that Bitcoin wallets holding one or fewer BTC now hold a record-breaking 1.4 million Bitcoin, constituting 7.3% of the total supply.
🐟🦈🐳 #Bitcoin's wallets holding 1 or less $BTC hold their most coins ever, as they aggressively picked up their accumulation since the beginning of November. Mid-tier wallets are slightly down in the past couple months, while whales have increased. https://t.co/fswoTrzNUv pic.twitter.com/gPGLJyKP2g
— Santiment (@santimentfeed) December 18, 2023
Simultaneously, wallets with 100+ Bitcoin collectively, also known as whales, now account for 11.5 million Bitcoin in an increase over the past couple of months, representing 59.1% of the supply, while wallets with 1-100 Bitcoin collectively hold 6.5 million BTC, making up 33.6% of the supply, in what is a slight decline in the same period.
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Santiment reports that at the same time, during the last non-holiday weekend of 2023, the cryptocurrency market experienced a modest decline.
📉 #Crypto has seen a mild slide in its final non-holiday weekend of 2023. #Bitcoin has dropped back to $41.6K, while #Ethereum is faring a bit better as it hangs just above $2,200. #InternetComputer has been the outlier, more than doubling its market cap in a week.
— Santiment (@santimentfeed) December 17, 2023
(Cont) 👇 pic.twitter.com/c0lhlrrwgA
Bitcoin, tagged at $41,600, witnessed a pullback, while Ethereum (ETH) demonstrated relative resilience by hovering slightly above $2,200.
Read more: Ethereum price can reclaim $2k in August, Santiment predicts