• Bitcoin exchange deposits hit three-year low
• 1 million addresses now hold 1 Bitcoin or more
• Ethereum network bounces back as 60% validators go offline and first inactivity leak occurs
Bitcoin Exchange Deposits Hit Three-Year Low
A new milestone was reached over the weekend: 1 million addresses now hold 1 Bitcoin or more. This is a significant accumulation trend among „shrimps“. During the run-up to the 2017 bull market, we saw 500,000 addresses holding 1 Bitcoin or more.
1 Million Addresses Holds 1 Bitcoin
The cohort who holds 1 Bitcoin or less is referred to as shrimps, who have seen huge amounts of accumulation over the last few years. They now hold an aggregate supply of 1,345,444, roughly 7% of the supply.
Ethereum Network Bounces Back
As 60% of Ethereum’s validators went offline and its first inactivity leak occurred, the network has bounced back. This shows that Ethereum is still a resilient network despite its recent issues.
Bitcoin DCA Strategy From ATH Would Have Generated Profit
Using a Dollar Cost Averaging (DCA) strategy from its all-time high would have generated profit for holders and beaten out the S&P 500’s return on investment (ROI).
BRC-20 Tokens Lose 600 Million In Market Cap Within Four Days
BRC-20 tokens lost 600 million in market cap within four days due to uncertainty around certain protocols and projects. Despite this loss investors remain optimistic about their future potential growth if these projects become successful.