Bitcoin shrimps holdings jump to 1.31 million BTC

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  • Bitcoin wallets with less than 1 BTC are now at an all-time high of 1.31 million coins.
  • The data shows that Prawn is adding an average of 26,000 BTC per month.
  • The growth of Shrimp Cohort is a positive development for the bitcoin network.

an amount of Bitcoin Hosted by “Prawns” – They purse Institutions currently holding less than 1 BTC) have reached a new all-time high.

According to statistics From Glassnode, Prawns has increased his total holdings to 1.31 million BTC. The cohort has seen a gradual increase in holdings over the past several months.

Prawns holdings increase by +26,000 BTC per month

According to data shared by Glassnode via Twitter, the shrimp cohort is set to experience a significant expansion of its holdings in 2023. Last year followed a similar trend, with the market falling despite more volatility resulting in buying among this group.

Notably, Prawn has added 26,000 or more bitcoins per month. Since July 2020, only 202 (3.9%) trading days have recorded a large monthly increase.

This suggests that retail investors have been aggressive in accumulating BTC, with declines seen during bear markets providing investors with an opportunity to buy bitcoin at lower prices.

The chart below shows the growth in the amount of BTC held by wallet addresses with less than 1 bitcoin. As you can see, the amount placed by these institutions has increased significantly in June/July 2022 and again in November/December and January 2023.

The increase in short holders is positive for the long-term health of bitcoin’s network as the metric shows that retail investors have confidence in the cryptocurrency’s growth and long-term potential.

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