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CryptoRank Lists Top Bitcoin Wallets Holding Over 5% of Total BTC Supply

Published 07/12/2024, 14:03
Updated 08/12/2024, 00:15
CryptoRank Lists Top Bitcoin Wallets Holding Over 5% of Total BTC Supply
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Coin Edition -

  • CryptoRank has identified the blockchain wallets holding the highest amount of Bitcoin.
  • CEXs dominate the richest individual Bitcoin wallets category.
  • Individual wallets hold 5.27% of the total Bitcoin supply.
CryptoRank’s latest report brought out the wealthiest Bitcoin wallets, with a Binance cold wallet leading the pack at $24.33 billion—holding 1.26% of the total Bitcoin supply. While the report doesn’t reveal wallet owners, it sheds light on the concentrated storage pattern that could influence market sentiment. According to CryptoRank’s X post, the Binance cold wallet with 248,598 BTC holds the most Bitcoins in a single wallet. The wallet’s estimated Bitcoin value is $24.33 billion, representing 1.26% of the total Bitcoin supply. In fact, CryptoRank found two Binance cold wallets among the richest Bitcoin wallets. The second Binance Cold Wallet ranks fourth and holds 102,552 BTC, equivalent to $10.03 billion, or 0.52% of Bitcoin’s total supply.Interestingly, of the Bitcoin wallets that CryptoRank listed, four were on centralized exchanges like Binance, Bitfinex, and Robinhood. Two of the wallets held Bitcoins seized by the U.S. government, one belonged to a Mt. Gox hacker, while Tether Bitcoin reserves made up the other known wallet. But two of the top richest Bitcoin wallets remained unknown, according to CryptoRank’s report. The top 10 richest Bitcoin wallets account for 5.27% of Bitcoin’s total supply. Although the value of these holdings is significantly high, it does not determine the overall direction of the Bitcoin market. This highlights the decentralized nature of the Bitcoin ecosystem.Read also: Government Bitcoin Rankings: US Tops List, Bhutan and El Salvador ActiveDespite this, Bitcoin traders and investors monitor the activities of these wallets and other accounts holding significant BTC values. Events involving such accounts could influence the crypto market sentiment at times and drive the actions of retail investors. For example, many crypto traders are concerned about rumors that the Joe Biden administration will sell off the U.S. government’s crypto holdings soon. The post CryptoRank Lists Top Bitcoin Wallets Holding Over 5% of Total (EPA:TTEF) BTC Supply appeared first on Coin Edition.

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