Share this article
One Million Individual Wallets Now Hold a Whole Bitcoin
A major bump in such wallets came after the implosion of crypto exchange FTX between November and January.
Updated May 16, 2023, 7:45 p.m. Published May 16, 2023, 7:57 a.m.
Individual wallets holding at least one bitcoin set a milestone figure earlier this week, suggesting long-term sentiment for the tokens remains intact even as broader markets weigh down bitcoin prices.
Data from the on-chain analytics tool Glassnode show bitcoin wallets holding more than one token crossed the millionth mark on Monday. This is a 20% bump since February last year.
STORY CONTINUES BELOW
The data shows that bitcoin wallets holding one token grew by 79,000 between November and January – amid the collapse of crypto exchange FTX as prices fell from over $22,000 to briefly under $16,000.
The recent rise in ‘Bitcoin Request for Comment’ (BRC-20) tokens has done little to increase the number of wealthy holders, with only 30,000 new wallets holding one bitcoin added since the BRC-20 token standard’s launch in March.
Read more: BRC-20 Explained: How Tokens on Bitcoin Work and Why They Are Controversial
These standards allow developers to issue tokens on the network and build decentralized finance (DeFi) services such as lending and borrowing. It has contributed toward fees on the Bitcoin blockchain surging to two-year highs amid the demand for block space, with altcoins issued on Bitcoin reaching a cumulative market capitalization of as high as $1.6 billion earlier this month.
Meanwhile, despite the large holder figure, some market observers saw that most of the current bitcoin transactions come from smaller wallets.
“During the last peak in 2019, most Bitcoin transactions skewed towards larger transactions, in the range of $1,000 to $10,000,” said Tom Rodgers, Head of Research at ETC Group, in an email to CoinDesk.“This suggests most Bitcoin users were using the blockchain for trading.”
“Compare this to last week. The largest cohort of Bitcoin transactions - 359,560 - came from transactions under $1. This suggests a huge increase in Bitcoin velocity -- or the amount of Bitcoin being transacted by users, instead of being locked up in cold wallets and held over the long term,” Rodgers added.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Solana’s Drift Launches v3, With 10x Faster Trades
With v3, the team says that about 85% of market orders will fill in under half a second, and liquidity will deepen enough to bring slippage on larger trades down to around 0.02%.
What to know:
- Drift, one of the largest perpetuals trading platforms on Solana, has launched Drift v3, a major upgrade meant to make on-chain trading feel as fast and smooth as using a centralized exchange.
- The new version will deliver 10-times faster trade execution thanks to a rebuilt backend, marking the largest performance jump the project has made so far.
Top Stories
