Altcoin News: Bitcoin Addresses Containing at Least 10 BTC Reached a Historical Maximum

September 5, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The number of Bitcoin addresses containing at least 10 BTC ($105,000 at the current exchange rate) has recently reached a historic high, the Decrypt portal draws attention to.

As of September 1, 2019, there were 157,000 addresses, the balance of which was equal to or greater than 10 BTC, which corresponds to 1% of all Bitcoin holders. 614,500 addresses contain from 1 to 10 BTC, while from 10 to 100 BTC — about 0.5% of all Bitcoin addresses.

This, however, does not mean that individual cryptocurrency holders are behind all these addresses. So, at one address, for example, an exchange can hold cryptocurrency of many people at once, so one address may belong to several addresses. However, these data indicate that the distribution of assets in the Bitcoin network is less concentrated than in the blockchains of other cryptocurrencies.

According to the information of the analytical firm IntoTheBlock, a significant part of the large cryptocurrency holders remains in the black. Overall, about 83% of Bitcoin holders purchased their coins at a lower rate than they are currently worth. This, in turn, allows us to hope for a decrease in sellers’ pressure because most of those who bought cryptocurrency near a historical maximum has already managed to get out of their positions.

Similarly, the distribution of assets in the Ethereum network has increased. The number of ETH addresses containing at least one ten-billionth of today’s cryptocurrency emissions has reached a historic high this year. At the same time, the amount of 0.0108 ETH or $1.86 is not so impressive.

Author: Marko Vidrih