AxelAdlerJr2023-03-27

Large players control 61% of all bitcoins!

UTXO Value Bands is an indicator that displays the distribution of all unspent transaction outputs (UTXOs) by their value. It allows for the analysis of both large and small participants in the cryptocurrency market. According to analytical data, large players in the bitcoin market indeed control a significant portion of the market: - Dolphins (100-500 BTC) and Sharks (500-1,000 BTC) control 29.57% of the market, indicating that mid-sized players hold a substantial share of bitcoins. - Whales (1,000-5,000 BTC), Humpbacks (5,000-10,000 BTC), and Megawhales (>10,000 BTC) control 31.57% of the market, highlighting the influence of these enormous participants in the cryptocurrency market. Thus, large players collectively control 61.14% of all bitcoins. This has the following implications: The market becomes more sensitive to the actions of large participants. When such players buy or sell large volumes of bitcoins, it can cause significant price fluctuations. A smaller portion of the market, comprising about 38.86%, is in the hands of smaller participants and investors. This may suggest that cryptocurrencies are still a relatively niche investment instrument, and there is potential for further growth and increased participation of retail investors. In addition, we can examine the Bitcoin Address Balance Distribution by Cohorts table, from which we learn that the wealthiest group of wallets, controlling 31.57% of the market, accounts for 4,151 wallets. You can find the table with Bitcoin Address Balance Distribution by Cohorts in my dashboard. Also, don't forget to subscribe to my Twitter, where I publish macro reports on the bitcoin market.