Shrimps and Crabs in Bitcoin Are Accumulating BTC! Current On-Chain Analysis!

  • Recent data analysis shows that while the BTC balance on exchanges continues to decrease, it currently stands at around 2.3 million. During this time, smaller ownership groups, especially “shrimps” and “crabs,” have seen an increase in their balance size.
  • This trend could be an indicator of a broader distribution of Bitcoin ownership, demonstrating that smaller players are steadily accumulating Bitcoin.
  • Recent market data indicates that Bitcoin’s dominance over altcoins like Ethereum and BNB has been increasing. Yesterday, a significant sell-off occurred in all cryptocurrencies except Bitcoin.

Shrimps and crabs in Bitcoin BTC accumulation attracts attention: The interest of individual investors remains alive.

Shrimps and Crabs Rapidly Accumulating BTC

Bitcoin-BTC

Recent data analysis shows that while the BTC balance on exchanges continues to decrease, it currently stands at around 2.3 million. During this time, smaller ownership groups, especially “shrimps” and “crabs,” have seen an increase in their balance size. These crypto creatures hold 1 and 10 BTC, respectively.

Currently, exchange balance dominance stands at 11.8%, slightly surpassing crabs’ 10.8% but significantly greater than shrimps’ 6.9%. What’s interesting here is the dynamic of decreasing exchange balance dominance and an increasing control by these smaller groups.

This trend could be an indicator of a broader distribution of Bitcoin ownership, demonstrating that smaller players are steadily accumulating Bitcoin. It’s a significant sign that the democratizing potential of blockchain technology continues to persist despite market fluctuations.

Bitcoin-Entity-Balance-Dominance
Bitcoin Entity Balance Dominance

Bitcoin Regaining Market Dominance as ETH and BNB Reach New Cycle Lows

Recent market data shows that Bitcoin’s dominance over altcoins like Ethereum and BNB has been increasing. Yesterday, a significant sell-off occurred in all cryptocurrencies except Bitcoin. This sell-off led Binance Coin (BNB) and Ethereum (ETH) to reach new cycle lows against Bitcoin.

When assessed in USD, Binance Coin reached $208 for the third time. Ethereum’s ratio to Bitcoin dropped to an all-time low of $0.057. Interestingly, Ethereum’s USD value managed to avoid setting a new low and remained above its previous low of $1,544 in September.

Meanwhile, Bitcoin’s market share dominance has been steadily increasing and is currently above 51%, approaching a new cycle high. This change suggests that investors are likely favoring Bitcoin, the world’s largest and oldest cryptocurrency, over smaller competitors like Ethereum and Binance Coin.

Bitcoin-Dominance
Bitcoin Dominance
Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

ETH Whale Sells 1550.4 ETH at $2438.5 After 47 Days, Incurs $69K Loss Despite $614K Unrealized Gain

On-chain data reveals that a prominent Ethereum whale recently...

Trump Tax Reform Bill Advances in U.S. Senate, Impacting Bitcoin Market Sentiment

According to recent market intelligence from COINOTAG News on...

James Wynn Opens $1.5 Million 40x Bitcoin Short Position on Hyperliquid at $107,319.7 Entry Price

According to HyperInsight data reported by COINOTAG News on...

Solana Leads with 22.75 Million Active Addresses Among Top 5 Public Chains, Nansen Data Reveals

According to recent data from Nansen, the leading public...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img