Rise of the shrimp and crabs: Small-scale bitcoin owners on the increase

by

Quick Take

Recent data analysis reveals that, as the BTC on exchange balance continues to dwindle, now currently sitting at roughly 2.3 million, there’s a concurrent rise in the balance size of the smaller ownership groups, specifically the “shrimps” and “crabs.” These crypto creatures own less than 1 and 10 BTC, respectively.

Currently, exchange balance dominance is 11.8%, marginally ahead of the crabs at 10.8% and significantly over the shrimps at 6.9%. The interesting dynamic here is the declining dominance of exchange balances and the corresponding increase in control by these smaller cohorts.

This trend could indicate a broader decentralization of Bitcoin ownership, showing that even smaller players are steadily accumulating Bitcoin. It serves as an important reminder of the democratizing potential of blockchain technology, even as markets ebb and flow.

Entity Balance Dominance: (Source: Glassnode)
Entity Balance Dominance: (Source: Glassnode)

The post Rise of the shrimp and crabs: Small-scale bitcoin owners on the increase appeared first on CryptoSlate.

Source link

Related Posts

Leave a Comment