• Wallets holding 1,000 or more BTCs have gathered almost 8 million coins.
• New addresses have increased as Bitcoin hit $40,000.

Certain Bitcoin [BTC] wallets have recently increased their accumulation, coinciding with BTC’s movement towards the $40,000 price range, generating significant discussions.

Bitcoin: 1k wallets increase their stakes

An examination of accounts holding 1,000 or more Bitcoin revealed a significant increase in the past few weeks. AMBCrypto’s analysis of Glassnode’s chart showed a continuous accumulation trend, reaching its highest point in over a year.

As of this writing, the number of these wallets stood at over 8.5 million. 

The trend line of the graph also indicated a further price rise. Furthermore, data from IntoTheBlock showed a rise in the volume of BTC accumulated by these wallets.

Slight uptrend in Bitcoin’s new addresses

The count of new addresses on the Bitcoin network experienced fluctuations in recent weeks as well. Nevertheless, according to data from Glassnode, there has been a notable increase in the last 24 hours.

The analysis of the figures indicated a rise from approximately 447,000 to around 557,000. While the specific wallet categories of these new addresses remained uncertain, this surge reflected robust growth in the network.

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Author: Adewale Olarinde

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