- The number of Bitcoin addresses holding $10K worth of Bitcoin has exceeded one million.
- The growth follows the surge in Bitcoin price, which may have spurred more buying pressure.
Bitcoin addresses with a large balance have been on the rise following the recent upticks in the cryptocurrency’s price in recent months. Current data from BitInfoCharts indicates that the number of BTC wallets holding at $10,000 worth of Bitcoin has surged to more than one million. This suggests that Bitcoin investors have been buying more Bitcoins as the price continued to grow.
Bitcoin addresses with less than 1 BTC surges
According to BitInfoCharts, the total number of Bitcoin addresses with at least $10,000 worth of the cryptocurrency surpassed the one million mark. These addresses sum to 1,095,150. Currently, $10,000 will buy about 0.63 BTC following the current price of the cryptocurrency at $15,630 on Coinmarketcap. Meanwhile, Bitcoin addresses with $100,000, $1,000,000, and $10,000,000 worth of Bitcoin summed to 201,449, 23,606, and 3,084, respectively.
The development today largely be attributed to the ongoing rally in Bitcoin price. For context, the cryptocurrency grew from $10,700 in the previous month to as high as $15,630 today, which represents a 46 percent growth. Meanwhile, Bitcoin broke through the $15,000 level yesterday, reaching nearly $16,000 ($15,950) as the year’s all-time high (ATH). Perhaps, it’s agreeable to note that these upticks in the crypto’s price seemingly pushed up BTC buying pressure.
Bitcoin addresses in profits
Following Bitcoin’s price rally, the majority of all the addresses with a balance in Bitcoin are in a state of profit. As Glassnode, an on-chain analytics platform shared on Thursday, 31,933,663.208, addresses with a balance in Bitcoin are in profit. This is also the highest time (ATH) number of BTC addresses enters into profit. According to Bitcoin network explorer, Blockchain.com, there were about 33 million Bitcoin addresses as of November 5.