After bitcoin prices fell to a low of $ 30,066 per unit last week, many people have focused on panic sellers. Meanwhile, when bitcoin prices fell, the number of bitcoin addresses in accumulation reached an all-time high at address 545,115.
The number of bitcoin accumulation addresses reached a new high
Bitcoin (B T c) Prices fell from a high of $ 7,995 per unit in 30 days to a low of $ 30,08 per bitcoin and a drop of more than 53% in value. When Glasnod’s bitcoin “accumulation address” dropped data prices Spiked.
The number of bitcoin addresses in the accumulation shows fundamental power signals and gives investors a view of long-term holders. Glasnode’s data represents addresses that have little or no incoming transaction, as opposed to more active addresses.
Nine months ago, Glasnod Reported Reaching the 500k mark at accumulation addresses. “There are over 500,000 bitcoin ‘accumulation addresses’ with a total of 2.6 million” B T c (~ 14%). Cache addresses: – have 2+ incoming txs – never spent B T c – were active in the last 7 years (accounting for lost coins) – exchanges and miners are excluded, ”said the analytics firm at the time.
According to Glasnod statistics, the current number of bitcoin addresses in the accumulation recorded on Monday, May 24, 2021 was approximately 545,115 addresses.
The Glasnod report states, “Looking at the expense of Minor coins shows that there has been an increase in Minor-to-Exchange Flows.” “Above 100” B T c/ Day to 300BTC / day, this still represents a relatively small portion of ~ 900BTC / day issuance, ”the researchers said.
Since the first week of May, more than 16,000 addresses have been added to the sum of bitcoin addresses. After declining to $ 30,066, Bitcoin addresses increased in accruals.
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