- Analytics platform Santiment has published a report on the number of wallets with a balance of 100 BTC or more.
- The volume of coins in such accounts has grown by 27,755 BTC since May 16. In total, they control 59.2% of the supply.
- The Bitcoin Kits Index from CryptoQuant is also on the rise, although the figure failed to reach the level from early May 2023.
The share of large holders with accounts holding 100 coins or more has grown by 27,755 BTC since mid-May 2023, according to data from analytics platform Santiment. In total, they control 59.2% of the asset’s total supply:
Share of Large Holders
The chart shows an upward trend from May 16 through early July 2023. This may indicate the prevalence of holding sentiment in the market.
This thesis echoes the conclusions of Glassnode experts. According to their data, the volume of coins on wallets that store cryptocurrency for more than 155 days increased by 62,882 BTC in July. This means that long-term holders control 75% of the market’s circulating supply.
The CryptoQuant Bitcoin Whale Index hit 0.38 basis points at the beginning of July 2023. In mid-January, it was at 0.28.
This category includes cryptocurrency investors who hold 1,000 BTC or more, according to CoinDesk.
The annual ATH for the index was recorded in early May 2023 at 0.79. This has come amid a surge in the popularity of Ordinals and BRC-20, which has increased the price of the asset, but so have commissions.
At the time of writing, bitcoin is trading at $29,170, according to CoinMarketCap: