The Bitcoin shrimps and their holdings have been highlighted in various instances, and recent data suggest the increase in accumulation.
According to recent blockchain data released by Glassnode, an on-chain analytics firm, Bitcoin shrimps have continued to accumulate the asset aggressively. The shrimp group is a general term for referring to retail investors holding less than 1 Bitcoin.
Historically, this group has consistently added to their balance and is continuing to have relative aggressiveness, proving to be most informative.
The chart below shows the total balance of coins held via the orange line, whereas the colored area is the 30-day net position in the case of the shrimps.
Looking at Glassnode’s graph, it is visible that shrimps do not seem to have sold over a 30-day basis. Currently, they hold over 1.2 million of the total circulating supply and have accumulated 30,000 Bitcoins in the past 30 days.
Interestingly, the crab cohort has also shown a similar pattern in the past few days. The crabs are generally described as retail-sized investors by their wealth accumulation, who either have larger allocations and/or have accumulated over multiple years.
Considering Bitcoin’s grassroots and retail-dominated history, the crab group consists of many well-informed, albeit retail-sized investors.
Similar to the previous graph, the orange color line in the chart below shows the total balance of coins held, whereas the colored area is the 30-day net position in the case of the crabs.
Looking at the pattern of the crabs’ graph, it is clear that the group has just crossed the 3 million Bitcoins mark, and currently, they are accumulating over 30,000 Bitcoins.
Analysts say that the most interesting part of the crabs’ group is that they rarely sell. However, the figures for sales rose around May 2021 when China announced a ban on institutions and companies from providing cryptocurrency-related services and warned investors against trading. Following that, the asset price continued to rise and reached its all-time high in November, so that might have been a lesson to the crab cohort.
Interestingly, both the shrimps and crabs cohort are accumulating Bitcoin at one of their fastest rates ever.
Todayq News reported the aggressive accumulation of Bitcoins by the shrimps in the last week of December as well. At that time, the shrimps had managed to add over 60,000 Bitcoins to their portfolios over 30 days.