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Whales Accumulate BTC But Medium Size Addresses Reduce

Small and Whale BTC Addresses are again increasing but the Medium-Sized Addresses have decreased.

The patterns of accumulation among different BTC address categories are different. Even though Decentralized Finance (DeFi) is growing at a skyrocketing pace, the growth is not linear in all segments of BTC holders, as per a report by Beincrypto citing Glassnode data.

Non-Zero and Small Addresses Rise

The number of non-zero addresses has been increasing since March 2018 after the sharp sell-off.
Source: Beincrypto

In the current bull run, during April 2021, the number of new addresses dipped slightly.

Addresses are growing despite the ongoing correction in the market.

When it comes to Small Addresses holding between 0.01 BTC and 1 BTC, they have grown consistently.
Source: Beincrypto

Therefore, Small Addresses appear to be gradually accumulating.

Medium Sized Addresses Reduce

Unlike Small Addresses, medium-sized addresses, holding more than 10 BTC (in red) and more than 100 BTC (in gold), have registered a gradual decrease since 2017.
Source: Beincrypto

Medium Size holders are away from reaching a new all-time high.

So, accumulation among these addresses is decreasing.

Large Sized Addresses

The medium size addresses may have decreased, but the same is not the case with Large holding Addresses.
Source: Beincrypto

The number of addresses with more than 1,000 BTC and more than 10,000 BTC has been varying.

Neither of them is at an all-time high, but both of them are rising in 2022.

In the case of addresses with more than 10,000 BTC (yellow), the bulk of the increase occurred in September 2021 (black circle).
Source: Beincrypto

On the other hand, addresses with more than 1,000 BTC (red) rose significantly at the beginning of March 2022 (red circle).

It can be inferred from the patterns that more users are being onboarded to the Bitcoin blockchain. But, they are not able to accumulate beyond a certain degree. However, whales have begun to rise again after witnessing a dip in 2021.

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