The vast majority of bitcoin is concentrated in a relatively small number of wallets.
Blockchain Research Firm Diar, released some interesting findings recently on the world's bitcoin holdings.
According to Diar, just 1% of the world's bitcoin wallets hold more than 55% of all the bitcoins in existence.
What's more, less than 1% of wallets control roughly $100 billion worth of bitcoin.
Specifically from Diar:
"Over 87% of Bitcoins are stored in wallets that are above 10 Bitcoins ($60K+) – the total value just shy of $100Bn of the total market capitalization. These coins sit in only 0.7% of all Bitcoin addresses."
(Source: https://diar.co/volume-2-issue-37/#1)
A large portion of these coins are not moving.
During the price peak back in December, many of these large bitcoin holders decided not to sell/move their bitcoin.
Check this out:
(Source: https://diar.co/volume-2-issue-37/#1)
Keep in mind that this doesn't necessarily mean that a select number of wealthy individuals are sitting on large sums of bitcoin wealth.
The majority of the largest wallets are owned by cryptocurrency exchanges that are holding coins on behalf of clients.
It is known that roughly 4% of the total bitcoin supply is currently sitting in the top 5 wallets, which are known cryptocurrency exchange wallets.
The total dollar amount is roughly $4.5 billion at current prices.
However, some whales did sell during the price peak.
Roughly $30 billion worth of bitcoin was sold between December 2017 and April of 2018 from large wallets.
Which likely was one of the main reasons prices crashed as hard as they did.
However, it appears that a very large portion are still content holding onto their bitcoin wealth.
Also keep in mind that a large portion of the current bitcoin supply is estimated to have been lost forever.
Diar and Chainalysis both estimate that roughly 30% of the supply is lost.
Stay informed my friends.
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Whales 🐋 rule the crypto world; we are but guppies at their mercy 😩💰😩
We need them whales to start pumping again.
They would sell lot more if they could..What good is to have 100 billion in btc,when you can't sell it without crashing the market to 0.
That is a good point. Though roughly 30% of those coins will likely never be sold.
Wow. That is surprising to me, I would have thought whales holding a lot of BTC would have sold much of their holdings in the last run and thought that meant BTC was more distributed.
The good news is that much of those bitcoins will never be sold.
Those who sold in January through April look like savvy investors right now. They could've taken massive profits off of the table and re-bought at today's low prices.
Some of them likely are. :)
Sure , these are the bitcoin whales , they manipulate the crypto market ..
They run all crypto coins.
How the supply is lost???
By forgotten keys, Right...
Yep, that is correct.
that is the downside. once lost.... its forever..
Hello jrcorner aap ko is sikayat krni chaiye mujhe lagta hai ye dipatmant her fer krta hoga. I think 100%
Yep! Centralization.
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when they will move from the wallets it will create panic only
The Large whales are holding...the banks have been buying the whole way down to compete with the market and try to be whales....the next one is the BIG ONE
That is kind of what I have been thinking as well. Could see something like $50k, heck maybe even $100k. Better be taking some profits there though...