Two cohorts of investors are aggressively hoarding bitcoin after FTX implosion: analytics firm Glassnode

A leading analytics firm claims that two groups of Bitcoin (BTC) investors charged heavily after the collapse of FTX.

Glassnode says prawns, or entities owning less than one bitcoin, collectively racked up over $1.55 billion in BTC after the fall of FTX.

“Bitcoin Shrimps (<1 BTC) added 96,200 BTC to its holdings since the collapse of FTX, a record balance increase.

This cohort now holds over 1.21 million BTC, or 6.3% of the circulating supply.

Source: Glassnode/Twitter

As for crabs or entities owning up to 10 BTC, Glassnode says the investor cohort has gobbled up more than $3 billion worth of Bitcoin in the past month.

“Bitcoin Crabs (up to 10 BTC) also saw their balance increase by 191,600 BTC in the last 30 days.

This is a compelling all-time high, eclipsing the July 2022 peak of 126,000 BTC/month.

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Source: Glassnode/Twitter

While both cohorts of investors have increased their Bitcoin balances, Glassnode notes that whales have reduced their holdings slightly over the past 30 days to the tune of just $105 million in BTC.

“The main cohort that lightened their bitcoin holdings is whales (over 1,000 BTC).

Whales have released around 6,500 BTC on net exchanges over the past month.

Although it is distribution, it is still very small compared to their total holdings of 6.3 million [BTC].”

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Source: Glassnode/Twitter

At the time of writing, BTC is trading hands for $16,248, down 1.72% on the day.

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Featured Image: Shutterstock/RealmDrifter/Konstantin Faraktinov

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