There’s More Bitcoin Addresses With 1 BTC Than Ever Before

Bitcoin on crypto exchanges has hit its highest point in a month, but the number of addresses holding a full coin is also on the rise


Art by Axel Rangel


Bitcoin (BTC) has clawed back losses amid more uncertainty in the US banking sector — but rising balances on crypto exchanges overshadows its recovery.

BTC now hovers around $28,750, up 5.5% over the past five days after tanking about 10% last week.

Total BTC held on exchanges is at its highest level in a month, having steadily grown since March 27, CryptoQuant data shows.

“As the values continue to rise in reserve, it indicates higher selling pressure and has shown an opposite trend in price in general,” according to the firm. 

Per CryptoQuant, as of Tuesday evening there were:

  • 2.18 million BTC ($62.9 billion) on exchanges,
  • 30,000 BTC ($865.4 million) more over the year to date, up 1.4%,
  • 390,000 BTC ($11.25 billion) less than one year ago — an 18% drop.

This week has also seen several large inactive wallets wake up, causing concern about BTC flooding the market, research firm K33 said in a recent report. Demand for BTC has also fallen month-to-month, leading to decreased volatility overall, the firm said.

“BTC’s 30-day volatility remains at 3-month lows of 2.1%. While BTC’s 30-day volatility trends lower, with BTC seeing a stale performance over the past month,” K33 said.

Still, the number of addresses holding more than 1 BTC has continued to rise steadily for the month of April, reaching new all-time highs this week. 

There are now close to one million addresses with at least one full bitcoin, up 19% since this time last year.

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.


Upcoming Events

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Screenshot 2024-05-23 091855.png


Bitcoin L2s aim to boost scalability while preserving decentralization and security, unlocking a better user experience, and new avenues for Bitcoin-powered innovations. However, no existing Bitcoin L2 leverages the full security of Bitcoin.



As part of the #Breakout2024 plans, Radix has introduced Token Trek


House members ask Gensler to keep a “consistent and equitable approach” with ether ETF proposals after the agency approved spot bitcoin ETFs in January


Using old-world instruments to address crypto user experience challenges goes against what this industry set out to do


And, weeks of a potential crypto ETF decision are no stranger to chaos


The FIT21 Act marks the second crypto-focused piece of legislation to advance in Congress this month


More than half of Solana transactions fail