Bitcoin addresses holding up to 10 BTC have amassed massive amounts of BTC.
BTC is currently trading at $16,482, up roughly 2.5% in the last 24 hours.
With the cryptocurrency bear market as well as fear, uncertainty, and doubt (FUD) following the collapse of FTX, on-chain data suggests.
As per a report released on Nov. 27 by a blockchain intelligence platform, smaller retail investors have become increasingly enthusiastic about Bitcoin and have begun accumulating more BTC despite the continuing market crisis.
The data highlighted that there are at least two types of retail Bitcoin investors who have amassed a record number of BTC in the aftermath of FTX's collapse.
The first class of investors, known as shrimp, refers to entities or investors who own less than one Bitcoin ($16,500), whereas crabs are addresses that own up to ten Bitcoin ($165,000).
Following the FTX crisis in early November, "Shrimp" investors reportedly added 96,200 BTC ($1,6 billion) to their holdings, an "all-time high balance increase." This type of investor jointly holds 1.21 million BTC ($20 billion), which is comparable to 6.3% of the current circulating quantity of 19.2 million coins, as per the report.
Meanwhile, "crabs" have purchased over 191,600 BTC ($3.1 billion) in the last 30 days, which is also a "convincing all-time high," as per reports. The new milestone surpassed the crabs' previous high of BTC accumulation in July 2022, when they purchased 126,000 BTC ($2 billion) per month.
While crabs and shrimps were amassing record quantities of Bitcoin, large Bitcoin investors were selling. Sources noted that Bitcoin whales have released approximately 6,500 BTC ($107 million) to exchanges in the last month, a relatively small part of their total holdings of 6.3 million BTC ($104 billion).
Given the recent industry developments, the behavior of shrimps and crabs appears to be interesting, with Sam Bankman-Fried's crypto exchange becoming the subject of a large industry crisis involving alleged fraud and funds misappropriation.
However, despite the continued crisis, several large Bitcoin investors have claimed to remain bullish on Bitcoin, with the government of El Salvador starting to purchase BTC on a daily basis starting from November 17.
Read also: BITCOIN PRICE ANALYSIS CMP-$16,500: BTC is trapped in a range; a break will set the new trend
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