“Bitcoin Ecosystem Remains Thriving as On-Chain Data Exposes Retail Investors as Main Players”

"Bitcoin Ecosystem Remains Thriving as On-Chain Data Exposes Retail Investors as Main Players"

"Bitcoin Ecosystem Remains Thriving as On-Chain Data Exposes Retail Investors as Main Players"

Title: “BTC ecosystem continues to boom, but on-chain data reveals it’s just retail investors stepping in”

Source: Ri Yue Xiao Chu

Contents:
1. BTC outflow from exchanges
2. BTC on-chain transaction fees
3. BTC new addresses
4. Holdings of different BTC amounts

We know that the influx of funds into the BTC ecosystem (also known as new investors) is an important factor in determining future trends. The best indicator of this influx is the withdrawal of BTC from exchanges. According to data, in the past week, the amount of BTC held in exchanges increased from 2.336 million to 2.35 million, resulting in a net inflow of 14,000 BTC. In the previous week, there was only a net outflow of 1,000 BTC, indicating that there were no significant withdrawals from exchanges, but rather significant inflows. In comparison, during the height of the frenzy in May, there was a net outflow of 14,000 BTC from exchanges. This suggests that the influx of funds into the BTC ecosystem is relatively limited, and it’s possible that some large holders have already secured their profits.

With the increasing popularity, the transaction fees on the BTC blockchain have also noticeably increased. Typically, network transaction fees are around 0.00004 BTC, but in recent days, they have reached as high as 0.00043 BTC, a ten-fold increase. However, it is important to note that 1) it is still significantly lower than the peak in May, and 2) in the past two days, BTC transaction fees have started to decline.

The number of new BTC addresses can be used to measure the number of new users. From the data, it can be seen that the daily number of new BTC addresses is around 300,000 to 400,000. However, in recent days, the daily number of new addresses has increased to 600,000, indicating a large influx of new users.

From this data analysis, we can examine the changes in BTC holdings addresses from November 1st until now. The number of addresses holding more than 100 BTC has decreased from 16,166 to 16,127, a decrease of 39. The number of addresses holding more than 10 BTC has decreased from 156,229 to 155,975, a decrease of 254 addresses. The number of addresses holding more than 1 BTC has increased by 1,000. However, it is important to note that there was an initial increase followed by a decrease, with a decrease of 600 addresses in the past week. The number of addresses holding more than 0.01 BTC has increased by 101,000.

It can be said that the number of BTC holders with large amounts is continuously decreasing. The number of addresses holding more than 1 BTC has also been decreasing in the past week. Only the number of retail addresses holding very small amounts of BTC is increasing.

In conclusion, although there is a large number of new addresses, they are mostly retail investors. The actual situation is that a large amount of BTC is flowing into exchanges without an influx of funds, and there are clear signs of large holders taking profits.

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