• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Nexo Logo

The Number of Bitcoin “Wholecoiners” Just Hit a Fresh All-Time High

Cole Petersen by Cole Petersen
2 years ago
in Bitcoin
Reading Time: 2 mins read
Advertisement

Bitcoin investors have been accumulating the digital asset at a rapid pace throughout the past several days and weeks, with the cryptocurrency seeing massive inflows of capital in August while its price remained somewhat stagnant between $11,000 and $12,000.

This trend is elucidated by the massive upticks in exchange volume seen throughout the month, pointing to the injection of new capital and new investors into the market.

It is important to note that data regarding the number of addresses holding over 1 BTC shows that investors have been accumulating to join the “wholecoiner” club over the past few months.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

This is a positive development for the market, as it indicates that retail investors have been accumulating the benchmark cryptocurrency at a rapid pace.

This may help the market form a strong base to grow upon in the months and years ahead.

Crypto Markets See Heightened Retail Activity

NewsBTC reported earlier this week that cryptocurrency exchanges have been seeing massive inflows of trading volume throughout the past month, showing that the recent strength seen by the nascent market is attracting capital.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Trading volume on top-tier exchanges increased by 58.3% in August, now sitting at $529 billion.

As cited in the report, one research group explained that top-tier exchanges now represent 64% of the market’s total volume.

“In August, Top-Tier volumes increased 58.3% to $529bn while Lower-Tier volumes increased 30.2% to $291bn. Top-Tier exchanges now represent 64% of total volume (vs 60% in July).”

The same research group also found that volumes on the CME amongst institutional traders rose in tandem with that seen by exchanges.

This Key Data Metric Shows Retail Traders are Heavily Accumulating Bitcoin

The growing volume seen by exchanges comes as data points to an accumulation pattern amongst retail traders, with this being further accentuated by the rise in the number of wallet addresses holding one entire Bitcoin.

This data, which analytics firm Glassnode spoke about in a recent tweet, shows that individual investors have been increasing their exposure to BTC throughout the past few weeks and months.

“Unfazed by BTC’s price swings, the number of network addresses holding at least 1 BTC has shown a continuous growth over the years. The number of ‘wholecoiner’ addresses hit another ATH yesterday, closing the day above 823k for the first time.”

Bitcoin

Image Courtesy of Glassnode.

If this trend persists in the near-term, it could forge a strong base for Bitcoin and the aggregated crypto market to rise upon.

Featured image from Unsplash.
Tags: btcusdBTCUSDTxbtusd
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

Crypto starts week Positive, Bitcoin Bulls Prep For A Breakout

Crypto starts week Positive, Bitcoin Bulls Prep For A Breakout

10 hours ago

Bitcoin Taker Buy/Sell Ratio Approaches Bullish Cross

14 hours ago
bitcoin

Bitcoin Investors Gripped By Fear, Any Sign Of Hope Remain?

15 hours ago
Lido

Lido (LDO) Sheds 58% Of Its All-Time High TVL At $11 Billion

17 hours ago
Bitcoin

Bitcoin Reclaims $30K Territory After Recent Weeks’ Struggle – Analysts Weigh In

1 day ago
bitcoin hammer reversal

Hammer Time: The Bullish Signal That Could Save Bitcoin

2 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Global Fit Club: The World’s 1st gym that pays it’s members set to launch

May 24, 2022

The Last Palmswap Trading Competition Before Mainnet Launch. Up to 500K PALM in Prizes – for free!

May 24, 2022

Cardano NFT Disruptor – EGO.COM Enters the Game

May 24, 2022

LBank Weekly Listing Report, 23th May 2022

May 24, 2022

Muu Inu (MINU) Is Now Available for Trading on LBank Exchange

May 24, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.