Editor's PiCK
"Small Wallets Net-Buy 19,300 Bitcoins Monthly, Surpassing Mining Output"
Minseung Kang
Summary
- Small wallets holding less than 100 Bitcoins (BTC) have been reported to be net-buying up to 19,300 Bitcoins every month.
- This purchase volume surpasses the Bitcoin mining output (13,400 BTC) during the same period.
- Glassnode explained that the ongoing net-buying by small wallets is leading to a reduction in liquidity on the supply side.
Wallet groups holding less than 100 Bitcoin (BTC)—the so-called 'shrimp, crab, and fish' wallets—have been net-buying as many as 19,300 Bitcoins per month. This figure surpasses the amount issued through mining during the same period (13,400 BTC).
On the 12th, on-chain data analytics firm Glassnode stated via X (formerly Twitter), "Wallet groups made up of shrimp, crab, and fish have been accumulating approximately 19,300 BTC every month." The monthly mining output issued through the Bitcoin network during the same period is about 13,400 BTC.
Glassnode added, "As consistent net-buying continues among these relatively small wallets, a tangible reduction in supply-side liquidity has emerged."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.!["Will AI take our jobs?" Fear spreads…market rattled by a plunge in shares [New York Market Briefing]](https://media.bloomingbit.io/PROD/news/874408f1-9479-48bb-a255-59db87b321bd.webp?w=250)
