The number of Bitcoin addresses has increased overall since the second halving in 2016. But the number of small wallets with a balance of less than 0.1 BTC has increased the most.According to data from Glassnode on May 11, the number of Bitcoin (BTC) addresses with balances below 0.01 BTC (currently around $ 86) increased 235 after the third halving compared to the second halving in July 2016 Percent. There are now more than 10 million such wallets. The number of addresses with balances between 0.01 BTC and 0.1 BTC (around $ 86 and $ 860) increased 204 percent. The number of addresses with more than 0.1 BTC but less than one Bitcoin rose by 142 percent.
Even the number of whales with addresses above 1000 BTC (currently around $ 8.6 million) rose by 13.2 percent. The number of wallets with balances between 100 and 1000 BTC (at least $ 860,000) increased by only 6.3 percent.
“Younger” Wallets: Reason for Volatility?
During the March crypto crash, there was much speculation as to whether long-term BTC HODLers, those who had kept their crypto securely in their wallets for over five years, might have been responsible for the slump.