The number of addresses holding more than 10 Bitcoin has risen to unprecedented levels.

According to data from analytics firm On-Chain Santiment, the number of addresses holding at least 10 Bitcoin surpassed the previous record in 2019.

There are approximately 157,400 cryptocurrency wallets holding more than 10 Bitcoin.

Santiment noted that the sharp increase in Shark and Whale cryptocurrency wallets containing at least 10 BTC since 2022 is an important on-chain indicator showing sustained growth over the past 20 months.

There are currently approximately 157,400 cryptocurrency wallets holding more than 10 BTC, which represents an increase of approximately 8.12% from February 2022.

Santiment noted that over the past 20 months since investors began accumulating assets, there have been 11,806 addresses holding more than 10 BTC.

Although the market is volatile, investors have been investing regularly, with addresses holding 1-10 Bitcoin increasing over the years.

However, an increase in addresses holding more than 10 BTC does not necessarily mean an increase in the number of investors, as these addresses may belong to the same user.

Bitcoin price movement

Bitcoin’s value recovered back to $26,910 on October 14 after it was reported that the SEC would not appeal the decision in the Grayscale case.

In August, the court criticized the SEC for rejecting Grayscale’s attempt to convert the Bitcoin Trust into an ETF.

After the SEC failed to appeal the decision, Grayscale’s decision showed an opportunity to approve the conversion of the Bitcoin Trust into an ETF.

Several other asset managers, including BlackRock and Fidelity, have filed documents with the SEC approving Bitcoin ETFs, and an approval is expected to be announced within the next year at the earliest.

source: Yo today