Bitcoin owners have accumulated cryptocurrency worth more than $ 400 billion

According to analytics company Glassnode, long-term cryptocurrency holders have accumulated 1.01 million bitcoins over the past two years. The total supply of coins on the market is 14.47 million BTC (more than $ 409 billion at the current exchange rate). This is 20,000 BTC less than the historical maximum.

Experts also note that crypto shrimp — addresses with less than 1 BTC — have been accumulating bitcoins more aggressively than crypto wallets during the reporting period. The growth rate for the month was 33,400 BTC. The shrimp cohort currently holds 1.33 million bitcoins.

At the time of writing, the flagship asset is trading for $ 30,767 with a market capitalization of $ 646.2 billion. Over the day, bitcoin dropped by 0.54%. Traders made daily trading deals worth $ 646.2 billion. Over the past week, the virtual coin showed an increase of 0.7%, over the past month — by almost 14%, and since the beginning of 2023 — by about 87%.

Despite this year’s significant growth, bitcoin is still trading 55% below its all-time high of more than $ 69,000, which the asset reached in November 2021.

Crypto analytics company IntoTheBlock notes that about 75% of BTC holders are making money on the current price of bitcoin. The firm also claims that 69% of BTC holders have kept their bitcoins for more than one year and have not used them in any cryptocurrency transactions.

Yesterday, on July 4, bitcoin managed to update its 13-month high — the value of the flagship cryptocurrency exceeded $ 31,300. The BTC rate began to rise after it became known that BlackRock had re-applied for the registration of a spot bitcoin ETF through the NASDAQ exchange.

In general, bitcoin’s market share is 49.6%, and its total market capitalization is at $ 1.2 trillion.