• bitcoinBitcoin (BTC) $ 97,940.00
  • ethereumEthereum (ETH) $ 2,749.59
  • xrpXRP (XRP) $ 2.48
  • tetherTether (USDT) $ 1.00
  • bnbBNB (BNB) $ 702.31
  • solanaSolana (SOL) $ 196.90
  • usd-coinUSDC (USDC) $ 0.999974
  • dogecoinDogecoin (DOGE) $ 0.265181
  • cardanoCardano (ADA) $ 0.797141
  • staked-etherLido Staked Ether (STETH) $ 2,755.28
  • tronTRON (TRX) $ 0.243809
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 97,674.00
  • chainlinkChainlink (LINK) $ 19.25
  • suiSui (SUI) $ 3.64
  • wrapped-stethWrapped stETH (WSTETH) $ 3,295.42
  • avalanche-2Avalanche (AVAX) $ 26.76
  • stellarStellar (XLM) $ 0.332163
  • shiba-inuShiba Inu (SHIB) $ 0.000017
  • the-open-networkToncoin (TON) $ 3.80
  • litecoinLitecoin (LTC) $ 123.31
  • leo-tokenLEO Token (LEO) $ 9.83
  • hedera-hashgraphHedera (HBAR) $ 0.234479
  • usdsUSDS (USDS) $ 1.00
  • hyperliquidHyperliquid (HYPE) $ 25.58
  • wethWETH (WETH) $ 2,748.30
  • polkadotPolkadot (DOT) $ 5.25
  • bitget-tokenBitget Token (BGB) $ 6.06
  • bitcoin-cashBitcoin Cash (BCH) $ 344.15
  • uniswapUniswap (UNI) $ 10.01
  • ethena-usdeEthena USDe (USDE) $ 1.00
  • wrapped-eethWrapped eETH (WEETH) $ 2,913.92
  • mantra-daoMANTRA (OM) $ 5.74
  • ondo-financeOndo (ONDO) $ 1.40
  • pepePepe (PEPE) $ 0.000010
  • moneroMonero (XMR) $ 225.16
  • nearNEAR Protocol (NEAR) $ 3.42
  • whitebitWhiteBIT Coin (WBT) $ 27.46
  • aaveAave (AAVE) $ 254.89
  • internet-computerInternet Computer (ICP) $ 7.41
  • aptosAptos (APT) $ 6.18
  • mantleMantle (MNT) $ 1.05
  • daiDai (DAI) $ 0.999759
  • bittensorBittensor (TAO) $ 411.01
  • ethereum-classicEthereum Classic (ETC) $ 21.49
  • susdssUSDS (SUSDS) $ 1.03
  • okbOKB (OKB) $ 52.06
  • official-trumpOfficial Trump (TRUMP) $ 15.43
  • vechainVeChain (VET) $ 0.035496
  • gatechain-tokenGate (GT) $ 22.53
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.328403
  • crypto-com-chainCronos (CRO) $ 0.095378
  • algorandAlgorand (ALGO) $ 0.302623
  • kaspaKaspa (KAS) $ 0.098485
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 97,988.00
  • render-tokenRender (RENDER) $ 4.67
  • jupiter-exchange-solanaJupiter (JUP) $ 0.864454
  • tokenize-xchangeTokenize Xchange (TKX) $ 28.00
  • cosmosCosmos Hub (ATOM) $ 5.05
  • filecoinFilecoin (FIL) $ 3.48
  • arbitrumArbitrum (ARB) $ 0.497809
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.823111
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.998382
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 97,448.00
  • sonic-3Sonic (prev. FTM) (S) $ 0.550602
  • celestiaCelestia (TIA) $ 3.27
  • fasttokenFasttoken (FTN) $ 3.95
  • binance-peg-wethBinance-Peg WETH (WETH) $ 2,746.46
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 2,860.60
  • binance-staked-solBinance Staked SOL (BNSOL) $ 203.39
  • raydiumRaydium (RAY) $ 5.32
  • optimismOptimism (OP) $ 1.13
  • lido-daoLido DAO (LDO) $ 1.71
  • kucoin-sharesKuCoin (KCS) $ 12.39
  • blockstackStacks (STX) $ 0.987707
  • solv-btcSolv Protocol SolvBTC (SOLVBTC) $ 97,571.00
  • xdce-crowd-saleXDC Network (XDC) $ 0.093969
  • injective-protocolInjective (INJ) $ 14.92
  • immutable-xImmutable (IMX) $ 0.829853
  • theta-tokenTheta Network (THETA) $ 1.44
  • ethenaEthena (ENA) $ 0.455274
  • bonkBonk (BONK) $ 0.000018
  • the-graphThe Graph (GRT) $ 0.146169
  • rocket-pool-ethRocket Pool ETH (RETH) $ 3,097.41
  • nexoNEXO (NEXO) $ 1.36
  • movementMovement (MOVE) $ 0.565259
  • quant-networkQuant (QNT) $ 92.96
  • mantle-staked-etherMantle Staked Ether (METH) $ 2,901.41
  • worldcoin-wldWorldcoin (WLD) $ 1.29
  • flare-networksFlare (FLR) $ 0.021122
  • usual-usdUsual USD (USD0) $ 0.999325
  • jasmycoinJasmyCoin (JASMY) $ 0.022939
  • sei-networkSei (SEI) $ 0.242136
  • dexeDeXe (DEXE) $ 18.72
  • galaGALA (GALA) $ 0.024178
  • solv-protocol-solvbtc-bbnSolv Protocol SolvBTC.BBN (SOLVBTC.BB) $ 96,981.00
  • eosEOS (EOS) $ 0.660452
  • the-sandboxThe Sandbox (SAND) $ 0.406323
  • msolMarinade Staked SOL (MSOL) $ 249.57
  • flokiFLOKI (FLOKI) $ 0.000100
  • tezosTezos (XTZ) $ 0.916427
  • ethereum-name-serviceEthereum Name Service (ENS) $ 27.65
  • iotaIOTA (IOTA) $ 0.248431
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 1.39
  • bittorrentBitTorrent (BTT) $ 0.00000089
  • jito-governance-tokenJito (JTO) $ 3.00
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 2,847.96
  • makerMaker (MKR) $ 1,027.97
  • flowFlow (FLOW) $ 0.534737
  • ultimaUltima (ULTIMA) $ 19,094.22
  • wbnbWrapped BNB (WBNB) $ 700.74
  • neoNEO (NEO) $ 11.67
  • bitcoin-svBitcoin SV (BSV) $ 41.07
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 213.73
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 97,697.00
  • kaiaKaia (KAIA) $ 0.134279
  • roninRonin (RON) $ 1.25
  • pyth-networkPyth Network (PYTH) $ 0.213431
  • chain-2Onyxcoin (XCN) $ 0.023395
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.57
  • usddUSDD (USDD) $ 1.00
  • spx6900SPX6900 (SPX) $ 0.788152
  • tether-goldTether Gold (XAUT) $ 2,900.21
  • curve-dao-tokenCurve DAO (CRV) $ 0.556116
  • axie-infinityAxie Infinity (AXS) $ 4.47
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 2,902.45
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.264908
  • heliumHelium (HNT) $ 3.79
  • elrond-erd-2MultiversX (EGLD) $ 23.79
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 2,745.31
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.010340
  • aerodrome-financeAerodrome Finance (AERO) $ 0.839902
  • starknetStarknet (STRK) $ 0.246685
  • decentralandDecentraland (MANA) $ 0.341144
  • berachain-beraBerachain (BERA) $ 5.92
  • fraxFrax (FRAX) $ 0.997045
  • arweaveArweave (AR) $ 9.60
  • usdx-money-usdxusdx.money USDX (USDX) $ 0.999279
  • ai16zai16z (AI16Z) $ 0.565967
  • dogwifcoindogwifhat (WIF) $ 0.610439
  • chilizChiliz (CHZ) $ 0.064302
  • pendlePendle (PENDLE) $ 3.66
  • pax-goldPAX Gold (PAXG) $ 2,920.97
  • matic-networkPolygon (MATIC) $ 0.328284
  • conflux-tokenConflux (CFX) $ 0.119668
  • paypal-usdPayPal USD (PYUSD) $ 1.00
  • dydx-chaindYdX (DYDX) $ 0.804039
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 2,760.95
  • fartcoinFartcoin (FARTCOIN) $ 0.585242
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 2,749.57
  • beam-2Beam (BEAM) $ 0.010759
  • pumpbtcpumpBTC (PUMPBTC) $ 92,254.00
  • resolv-usrResolv USR (USR) $ 1.00
  • telcoinTelcoin (TEL) $ 0.007065
  • insurance-2INSURANCE (INSURANCE) $ 29.27
  • apecoinApeCoin (APE) $ 0.756737
  • kavaKava (KAVA) $ 0.502325
  • meowMEOW (MEOW) $ 0.006011
  • ecasheCash (XEC) $ 0.000027
  • wormholeWormhole (W) $ 0.184402
  • compound-governance-tokenCompound (COMP) $ 59.07
  • aioz-networkAIOZ Network (AIOZ) $ 0.458452
  • coredaoorgCore (CORE) $ 0.553256
  • beldexBeldex (BDX) $ 0.075235
  • zcashZcash (ZEC) $ 32.64
  • reserve-rights-tokenReserve Rights (RSR) $ 0.009205
  • thorchainTHORChain (RUNE) $ 1.43
  • deepDeepBook (DEEP) $ 0.200958
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 98,172.00
  • true-usdTrueUSD (TUSD) $ 0.998094
  • akash-networkAkash Network (AKT) $ 1.99
  • amp-tokenAmp (AMP) $ 0.005829
  • clbtcclBTC (CLBTC) $ 97,998.00
  • newton-projectAB DAO (AB) $ 0.011030
  • chex-tokenCHEX Token (CHEX) $ 0.472068
  • gnosisGnosis (GNO) $ 179.71
  • morphoMorpho (MORPHO) $ 2.04
  • tbtctBTC (TBTC) $ 98,038.00
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000083
  • based-brettBrett (BRETT) $ 0.045549
  • apenftAPENFT (NFT) $ 0.00000046
  • quantixaiQuantixAI (QAI) $ 86.07
  • axelarAxelar (AXL) $ 0.489242
  • mina-protocolMina Protocol (MINA) $ 0.367255
  • dohrniiDohrnii (DHN) $ 7.51
  • stakestone-berachain-vault-tokenStakeStone Berachain Vault Token (BERASTONE) $ 2,723.11
  • eigenlayerEigenlayer (EIGEN) $ 1.76
  • super-oethSuper OETH (SUPEROETHB) $ 2,756.71
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 1.00
  • echelon-primeEchelon Prime (PRIME) $ 7.64
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 3,003.37
  • zksyncZKsync (ZK) $ 0.112113
  • trust-wallet-tokenTrust Wallet (TWT) $ 0.979615
  • olympusOlympus (OHM) $ 24.75
  • hashnote-usycHashnote USYC (USYC) $ 1.08
  • usdbUSDB (USDB) $ 0.988303
  • polygon-pos-bridged-weth-polygon-posPolygon PoS Bridged WETH (Polygon POS) (WETH) $ 2,754.89
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • verus-coinVerus (VRSC) $ 5.06
  • ai-rig-complexAI Rig Complex (ARC) $ 0.399978
  • 1inch1inch (1INCH) $ 0.273947

How Supply Distribution Trends Can Affect Bitcoin’s Price, According to Santiment

How Supply Distribution Trends Can Affect Bitcoin’s Price, According to Santiment

As bitcoin’s price consolidates and traders speculate about the asset’s next trajectory, the market intelligence platform Santiment has highlighted how supply distribution trends can offer insights into the cryptocurrency’s price movement.

Supply distribution data shows how different groups of investors hold cryptocurrencies. This metric takes into account the wallet sizes of small and large investors, especially whales and users who own non-empty wallets.

The Effect of Supply Distribution Trends

According to a Santiment report, historical data has shown that Bitcoin bull runs start when whales increase their holdings amid panic sales from smaller traders. Whales accumulating from retail investors often foster an environment for long-term price appreciation.

In the Bitcoin market, retail investors are seen as those holding 0.01 or less BTC, while whales are those having 100 or more BTC. Before BTC experiences a big surge, small retail wallets are often found holding less and less of the asset’s supply, while whales scoop up the bitcoins they are offloading.

Santiment cited data from BTC surges in June 2023 and October 2023, highlighting the ratio of BTC held by retail investors and how they began to dip before the rallies started. At the same time, whales start to accumulate more. Whenever small wallets start increasing rapidly, Santiment said it may be a warning that the Bitcoin market is overheating and a correction is near.

“If whale wallets (10+ BTC) are accumulating, it suggests that smart money is buying, which historically leads to price increases over time. However, if they are declining, it may indicate that large investors are taking profits, which could lead to a price drop,” Santiment added.

Bullish or Bearish?

Besides the supply distribution trends among retail investors and whales, Santiment also highlighted the importance of monitoring an asset’s total number of holders. This refers to the number of non-empty wallets existing on a network, especially as such wallets make up the vast majority of addresses in a blockchain.

At the time of writing, 42.26 million wallets held less than 0.01 BTC, which made up 77.4% of the overall 54.62 million non-empty wallets. If this number rises quickly, the chances of a market correction are high; however, if it begins to consolidate, then that is a bullish sign.

Source

Leave A Reply

Your email address will not be published.