As per the analysis, around55%of bitcoinsarepresentlystoredin wallets that are valued over $1.3 Mln, constituting balances ofmore than 200 bitcoins. One third of bitcoins in those wallets have reportedlynever beenutilized inoutgoing transactions since the price of the major cryptocurrency bitcoin peaked back in the month ofDec. 2017,because of“either lostprivatekeys, lowering realsupply, ora reallyrobustresolve by digital currency believers.”
According to the study,27%of thesewalletsstillaccrue toadd morecoins. Diar, however, states that those ownershipsdon’tindicatean explicitrangeof people, noting thatthe biggestwalletsarein hands of other digital currency exchanges. A $4.2 Blnworth, or 3.8%ofthe overall bitcoinsupplyispresentlyheldwithin thetop fivewallets administered by crypto exchanges.
Additionally 87%of bitcoinsarereportedlystoredin wallets withmore than10 bitcoins,the overallworthofthatconjure around $100 Bln ofthe overallmarket capitalizationat press time, but only 0.7%of all bitcoin addresses. Around 62 %of all outstanding bitcoins arekeptin wallets with overa 100bitcoins, representing a mere0.1% of all the addresses.
Earlier in Jan. this year, it wasalso revealedthat 80 % ofthe wholeBitcoinsupply, or 16.8 Mln BTC, had beenwell-mined. Bitcoinincorporates a21Mln capengineeredinto its protocol by Satoshi Nakamoto, who was first mentioned in the2008white paper, ashowto introduce digitaldeficiencyto the cryptocurrency. Thisafterwardsuggests thatsolely4.2 Mln BTC, or20 %, were left atthat pointuntilthe formative cryptocurrency’s21Mln supplycap is reached.
At press time, BTC istradingaround $6,361.97 USD, which is 1.11% over the last24hrs. Totalmarket capitalisationof the leading cryptocurrency is around $109.9 Bln, with 17,275,102 bitcoins in circulation as at the press time.