Bitcoin addresses holding more than 1,000 BTC hit 2,400 for the first time

The total number of Bitcoin addresses holding more than 1,000 BTC has for the first time surpassed 2,400, according to Glassnode data.

Bitcoin addresses holding over 1000 BTC hit a new all-time-high.

This year alone 164 addresses got added, currently worth $6 billion. pic.twitter.com/1p4FDKlBF1

— Top Cryptocurrency Exchanges (@CryptoBounty10) January 20, 2021

In 2021, 164 addresses were added, with a combined value of $6 billion.

Experts noted that Bitcoin is experiencing the largest liquidity drain in years.

“In 30 days about 270 000 BTC moved from exchanges to addresses held by hodlers,” Glassnode notes.

Glassnode data.

In mid-January, analysts reported that the number of Bitcoin addresses holding more than 1,000 BTC rose to 2140 amid price declines from $38,250 to $30,400.

Inactive addresses resumed transacting when the price rose above $40,000. But after reaching a new all-time high, whale addresses became inactive again, according to analytics firm Santiment .

🪙🔐 #Hodling #Bitcoin is becoming the trending strategy once again, after #AllTimeHigh‘s were made repeatedly the past couple months. Dormant coins that were being moved during the sharp rise above $40k are now… back to being dormant. Read our analysis! https://t.co/VjhARw2QEc pic.twitter.com/NX2pcCJvoC

— Santiment (@santimentfeed) January 20, 2021

Analysts say hodling has once again become a popular strategy after Bitcoin hit new all-time highs.

In January, asset-management company Grayscale Investments acquired a record 16,244 bitcoins in a day. Grayscale’s Bitcoin Trust now holds a total of 632,801 BTC.

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