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{"id":5570,"date":"2023-09-28T12:31:22","date_gmt":"2023-09-28T12:31:22","guid":{"rendered":"https:\/\/lunu.io\/news\/?p=5570"},"modified":"2023-09-28T12:31:24","modified_gmt":"2023-09-28T12:31:24","slug":"is-99-of-bitcoin-really-held-by-the-top-1","status":"publish","type":"post","link":"https:\/\/lunu.io\/news\/is-99-of-bitcoin-really-held-by-the-top-1\/","title":{"rendered":"Is 99% of Bitcoin Really Held by the Top 1%?"},"content":{"rendered":"\nRecent data from the blockchain platform Glassnode reveals that a staggering 99% of Bitcoin’s circulating supply is held by the top 1% of Bitcoin addresses. This figure has reached a three-month high, with the last similar concentration observed at the end of June 2023. Interestingly, a significant portion of these addresses belongs to exchanges that store cryptocurrencies for their users.<\/p>\n\n\n\n
The top 1% of Bitcoin addresses currently possess approximately 19.5 million coins, which equates to 98.913% of the cryptocurrency’s existing supply. This concentration has been on the rise since June, with a brief pause due to Bitcoin’s unsuccessful attempt to surpass the $30,000 mark. However, with the cryptocurrency’s mini-bull run in July, which saw it exceed this threshold, there was a resurgence in accumulation by these dominant addresses. For context, in May, these addresses already owned 99% of the roughly 19.5 million coins in circulation.<\/p>\n\n\n\n