The number of addresses with a balance of 1,000 BTC or more (over $24.7 million) has fallen to mid-2019 levels.
According to Glassnode, their number stands at 2024 (as of January 20, 2023). The comparable figure — 2023 — was recorded on August 5, 2019.
The number of addresses in this category reached a peak in February 2021 near 2,500. Then, in contrast to the rally of digital gold to a historic high near near $69,000, the metric began to decline.
However the number of addresses with balances of 10,000 BTC and more (>$247 million) remains near peak levels, corresponding to November 2022 and October 2018. In total there are 115 such ‘megawhale’ wallets as of February 20, 2023.
The number of much smaller addresses — those with 1 BTC or more — continues to grow, hitting new highs.
Over the year the indicator rose by 20%, approaching 982,000.
Bitcoin is trading around $24,700 at the time of writing. Since the start of 2023, digital gold has risen nearly 50%.
Earlier, one of the whales moved 412 BTC that had lain dormant for 10 years.