Large Players Control 61% of the Bitcoin Market, CryptoQuant Reports

As the world of cryptocurrencies continues to expand and evolve, new data on the distribution of bitcoins among various players is becoming increasingly important for investors and analysts. According to recent data by CryptoQuant, large players currently control a significant portion of the bitcoin market.

Analyzing the UTXO Value Bands, an indicator that displays the distribution of all unspent transaction outputs by their value, CryptoQuant found that Dolphins and Sharks, mid-sized players with 100-500 BTC and 500-1,000 BTC respectively, control 29.57% of the market. Meanwhile, Whales, Humpbacks, and Megawhales, which represent players with 1,000-5,000 BTC, 5,000-10,000 BTC, and over 10,000 BTC, respectively, control 31.57% of the market.

Source: CryptoQuant

Taken together, these large players control 61.14% of all bitcoins. This means that the market is highly sensitive to the actions of these players, with their buying or selling of large volumes of bitcoins causing significant price fluctuations.

At the same time, the data also shows that there is still significant potential for growth and increased participation of retail investors, as smaller participants and investors currently hold only 38.86% of the market. This suggests that cryptocurrencies are still a relative niche investment instrument, and there is room for further expansion and diversification.

Looking at the Bitcoin Address Balance Distribution by Cohorts, we see that the wealthiest group of wallets, which controls 31.57% of the market, accounts for only 4,151 wallets. This highlights the fact that, despite the growing popularity of cryptocurrencies, the number of investors with significant holdings of bitcoins remains relatively small.

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