What are the next altcoins to explode in September 2023? Find out more.

Key Points: 

Several altcoins have posted massive gains in 2023, and some price predictions expect more gains before the end of the year. 

In the 2021 bull market, several altcoins outperformed Bitcoin ($BTC). 

Positive news about the possibility of a spot Bitcoin ETF approval resulted in a considerable price surge at the end of last month, and now traders are thinking about which altcoins will pump in September. The top 10 altcoins in this post have been highlighted by market analysts as having the potential to rack up gains this September. 

What Is an Altcoin?

An altcoin is any cryptocurrency other than Bitcoin. The altcoin market is extremely diverse, so the term is considered an umbrella for many different types of crypto. The leading altcoin is Ethereum, and other notable alts include Solana, Litecoin and XRP. Altcoins tend to have considerably smaller market capitalisation than Bitcoin and offer specific use cases such as DeFi compatibility or fast transactions. 

The List of 10 Altcoins to Watch in September 2023

1. CyberConnect ($CYBER)

Market Capitalisation: $105 million 

YTD: 600%

Price: $10

CyberConnect ($CYBER) is a recently launched crypto project that’s designed to provide the tools needed to build Web3 social media platforms. $CYBER has been performing incredibly over the past month, and it has returned over 150% in the last seven days. 

The price prediction analysts have been unable to keep up with the Cyber surge. Pickacrypto set an end-of-year target of $10 last month, but that’s already been broken, and Coincodex’s September target of $8.9 has also been exceeded. 

$CYBER has been surging as investors bet on its ability to play a big role in Web3 social media.

2. Ethereum ($ETH)

Market capitalisation: $201.45 billion 

YTD gains: +37%

Price: $1,640

Ethereum ($ETH) is the dominant altcoin. As the first smart contract-compatible blockchain, it got a headstart on the competition and has proven over time to be the most popular platform for developers. It has a massive dApp ecosystem, a huge market cap, and YTD, it has returned nearly 40%. 

Ethereum price predictions are bullish on $ETH in September and in the longer term. Coincodex expects $ETH to be trading above $1740 this month, while AMBcrypto has an average target of over $2k. 

3. Solana ($SOL) 

Market Capitalisation: $17 billion 

YTD: 98%

Price: $19

Solana ($SOL) is a layer-1 blockchain designed to be faster and more developer-friendly than Ethereum. During the 2021 bull market, $SOL was trading for over $200, but the bear market and a series of technical failures pushed its price below $10. YTD $SOL has been one of the most profitable large-cap altcoins. 

Coincodex expects $SOL to post solid gains this month as it moves well above the $20 mark. Changelly is very bullish on $SOL, with a double-digit gain forecast for September that would push it to $24. 

4. Avalanche ($AVAX) 

Market Capitalisation: $3 billion 

YTD:  -8%

Price: $10

Avalanche ($AVAX) is a layer-1 blockchain that boasts some of the fastest transaction speeds on the market. The project has collaborated with several global corporations and, during the bull market, saw its price exceed $120. In 2022, its price crashed and now trades at a 90% discount from its all-time high price. 

Several price predictions are bullish on $AVAX in September. AMBcrypto believes $AVAX could rally to $18 this month, while Changelly and Coincodex are targeting more modest gains of 1-5%. 

5. XRP ($XRP)

Market Capitalisation: $26 billion 

YTD: 50%

Price $0.5

XRP ($XRP) is a layer-1 crypto created by Ripple Labs founders and used for global payments solutions. It’s been one of the most discussed projects this year due to the SEC’s case against Ripple Labs regarding sales of $XRP tokens. A judge ruled that most $XRP sales weren’t securities offerings, leading to the altcoin market surging in July. 

$XRP has given up most of its July gains, but the price predictions are generally optimistic that it will post solid gains this month. Coincodex expects $XRP to reach $0.055 this month, while AMBcrypto expects a surge up to $0.79. 

6. BNB ($BNB)

Market Capitalisation: 33 billion

YTD:  -20%

Price $214

BNB ($BNB) is the Binance blockchain’s native token that offers various benefits to the Binance exchange users, among other use cases. $BNB has one of the biggest market capitalisations, and many analysts expect it to recover from its recent decline as Binance continues to dominate the CEX industry. Coincodex and Changelly are extremely bullish on $BNB for September, with $500 price targets. 

7. XDC ($XDC)

Market Capitalisation: $790 million

YTD: 105%

Price: $0.056

XDC ($XDC) has been one of the most successful altcoins YTD. It's up over 50% in the past month as news about its use for the tokenisation of bonds spurred bullish sentiment. Cryptonewsz hasn’t offered a monthly price target, but they can see $XDC surging to $0.7 by the end of the year, while AMBcrypto expects a slight pullback following the recent rally. 

8. Cardano ($ADA)

Market Capitalisation: $9 billion

YTD:  -13%

Price: $0.25

Cardano ($ADA) has been struggling to gain momentum this year despite holding its place as a top ten crypto by market cap. Despite its price struggle, the blockchain’s total value locked has been increasing, and several technical upgrades have improved its usability. Changelly and Coincodex expect modest gains this month from $ADA but expect solid returns further down the line.

9. Dogecoin ($DOGE)

Market Capitalisation: $8.9 billion

YTD:  -13%

Price: $0.06

Dogecoin ($DOGE) is the leading meme coin and one of the most valuable cryptos by market cap. It’s experienced several short price surges this year but hasn’t formed a stable uptrend. The recent announcement by X (formerly Twitter) that it acquired a payments license that would allow it to deal in crypto has created considerable positivity about $DOGE’s potential to surge this month. 

10. Shiba Inu ($SHIB)

Market Capitalisation: $4.6 billion

YTD: -8%

Price: $0.00000796 

Shiba Inu ($SHIB) went on a solid bull run earlier in the year, but difficulties with launching its Shibarium blockchain have resulted in a double-digit drop over the past few months. The Shibarium launch issues have been resolved according to the Shiba Inu team, clearing the way for potential upside in September. Changelly expects $SHIB to add 10% by the end of the month, and Coincodex forecasts 1-5% in positive growth. 

Altcoins to Watch Out

Several altcoins have posted massive gains in 2023, such as $CYBER and $XDC, while some more well-known names, such as $BNB and $ADA, have struggled. According to several price analysts, the cryptos in this list are expected to perform well in September, with $BNB and $CYBER standing out in terms of potential gains. 

#shibaInu #Ethereum

Based on the technical analysis by cryptocurrency experts regarding the prices of ApeCoin till 2030, APE is expected to have the following minimum and maximum. 

Key Points: 

$APE has had a terrible year, posting a 79% loss YTD.

Massive ApeCoin token unlocks are inflating its supply while demand remains low. 

$APE lost another 8% in the past 24 hours, but at this point, it's not a particularly bad day for the struggling bulls. 

ApeCoin ($APE) is having a terrible year. The token is down over 75% in 12 months, and a massive token unlock has only added to its woes. Nonetheless, as the currency of one of the most iconic NFT projects ever, there are still plenty of bulls hoping its price can recover. This post will dive into Apecoin and give a detailed ApeCoin price prediction. 

What Is ApeCoin?

ApeCoin ($APE) is an ERC-20 token on the Ethereum ($ETH) blockchain created by YugaLabs, the founders of the Bored Ape Yacht Club (BAYC), to function as a multi-utility crypto within the BAYC metaverse. 

The token was launched in March 2022 to a massive fan fair as it allowed people to gain exposure to BAYC without shelling out massive amounts of money for an Ape. During the token’s launch, the BAYC floor price was around $ETH 100 and even after the brutal NFT bear market, the floor price remains above $ETH 25. 

ApeCoin’s use case within the BAYC metaverse includes the following: 

Purchasing and trading digital goods and services. 

Voting in the DAO. 

Staking to earn more $APE.

Gaining exposure to the success of BAYC with a far lower entry barrier. 

Despite the numerous use cases and the backing of one of the biggest developers in Web 3, the project has been struggling for months. 

ApeCoin Tokenomics 

ApeCoin ($APE) has a maximum supply of 1 billion and a circulating supply of 368 million. Its market capitalisation is just under $550 million, putting it comfortably among the top 100 projects. The distribution of $APE tokens is as follows: 

14.00% Launch Contributors 

15.00% BAYC/MAYC NFT Holders 

47.00% Treasury/Resources 

15.00% Yuga Labs 

1.00% Charity (JGLF) 

8.00% BAYC Founders

The unlock period for the maximum supply is scheduled to be completed in early 2026. With every unlock, the supply of $APE grows, and this year, a massive unlock has been particularly detrimental to its price. 

As major chunks of allocated $APE tokens are unlocked, sell pressure grows.

ApeCoin Price History 

$APE launched in 2022 for $3.84 and pretty much immediately rushed to its all-time high of $26.7. FOMO and hype caused the early price surge as traders bet big on YugaLabs and BAYC. However, the rally was very short-lived, as it was down to just $4 by June 2022. 

As 2022 unfolded, things got worse for $APE, and during the FTX collapse, it dropped below $3. However, unlike other altcoins, which rallied in early 2023, $APE has continued its downtrend. In the past 30 days, it has lost 40%, and it’s now trading below $1.3. 

The ApeCoin price has lost 40% in the past month and another 4% today as its growing supply outstrips demand. Source: Binance 

Latest ApeCoin News

The ApeCoin news cycle is dominated by token unlocks. Around 50% of tokens are already unlocked, and on September 17th, an estimated 40 million tokens will be unlocked and potentially dumped on the market. Many of the tokens being unlocked are held by insiders and early investors who have been impatiently waiting to take profits. The unlock makes up 11% of the circulating supply, and fears of massive selling pressure are the main reason for the recent adverse price action. 

ApeCoin Price Predictions for 2023

For the remainder of the year, Coincodex is bearish on ApeCoin. They expect the price to continue moving lower and potentially even reach $1. Interestingly, AMBcrypto is extremely bullish, with an end-of-year target of $7. Changelly is pretty optimistic with a $2 end-of-year target. 

ApeCoin Price Predictions for 2025

Coincodex has issued a very mixed price prediction for 2025. On one hand, their minimum price target is $2.75; on the other, their maximum target is over $9. AMBcrypto is optimistic that once this year's token unlocks are completed, $APE will rally to over $8 in 2025. Changelly expects $APE to post consistent gains and reach $4 in 2025. 

ApeCoin Price Predictions for 2030

Looking towards the end of the decade, Coincodes has forecast $APE to trade between $7 and $9, which represents a potential 9X from today’s price. AMBcrypto has issued a new all-time high price target of $31. Changelly’s forecast is very similar to AMBcrypto’s, with a $32 high price target for 2030.

ApeCoin price predictions in the short term suggest that more downside could be on the cards, especially if the freshly unlocked tokens are sold. In the longer term, the price predictions are generally bullish, with some ApeCoin price analysts expecting new all-time highs above $30 before the end of the decade. 

Conclusion

It would be surprising to many traders and analysts if $APE didn’t continue to struggle in the short term. The upcoming token unlock is likely going to add to the selling pressure as early investors take profits. However, even after a year-long downtrend, most ApeCoin price prediction experts are confident that the token can rebound in the long term and possibly even reach a new all-time high by 2030.

#crypto2023 #cryptocurrency

Discover how to buy Bitcoin (BTC) with our comprehensive guide, covering step-by-step processes for purchasing BTC on top platforms like eToro, Binance, and Coinbase.

What Is Bitcoin?

Bitcoin (BTC) is a decentralized digital currency introduced in 2009 by an anonymous entity, Satoshi Nakamoto. Utilizing blockchain technology, Bitcoin enables secure and transparent peer-to-peer transactions without intermediaries like banks. As a digital store of value and alternative to fiat currencies, BTC is often compared to gold due to its capped supply of 21 million coins. Its value is determined by supply and demand, resulting in significant price fluctuations. Bitcoin's blockchain technology has inspired numerous cryptocurrencies, known as altcoins, and innovative applications in various industries. Investing in Bitcoin carries risk, so thorough research is essential for potential investors. 

Where to Buy Bitcoin?

There are several methods to buy Bitcoin, but the most common way is through a crypto exchange or trading platform such as Binance, eToro, or Coinbase. These platforms offer several features, allowing users to buy, sell, and hold cryptocurrencies and other digital assets.

Crypto exchanges are divided into two types: centralized and decentralized. Centralized exchanges follow "Know Your Customer" (KYC) procedures, verifying users' identities, while decentralized exchanges allow for anonymity and typically don't require any personal information.

How to Buy Bitcoin on eToro

1. Sign Up on eToro: Register on eToro with a chosen username, email address, and password. Complete identity verification for a seamless experience.

2. Add Funds: Click "Deposit Funds" on the left-side navigation bar, choose your fiat currency, input payment details, and click "Deposit."

3. Buy Bitcoin: Visit Bitcoin's page, click "Invest," and opt for either "Trade" or "Order." The former buys BTC at current rates, while the latter initiates an automatic purchase upon reaching a set value.

4. Use eToro Crypto Wallet: Download the eToro Money crypto wallet for added security. Transfer bitcoin to the eToro wallet by clicking on a portfolio position and selecting "Transfer to Wallet."

How to Buy Bitcoin (BTC) on Binance

1. Set up a free account: Register via the Binance website or app, complete verification, and provide your email and mobile number.

2. Select a purchase method: Click "Buy Crypto" to explore Bitcoin buying options in your region.

   A. Credit/Debit Card: Use Visa or MasterCard for new users.

   B. Bank Deposit: Transfer fiat from your bank account to buy Bitcoin.

   C. P2P Trading: Acquire Bitcoin through Binance's peer-to-peer service.

   D. Third Party Payment: Consult Binance FAQ for region-specific channels.

3. Review and confirm payment details: Your order remains valid for 1 minute at the current rate. Refresh to update the order based on the newest market price.

4. Manage your Bitcoin: Hold it in your Binance account, personal crypto wallet or trade with other assets. Consider Binance Earn for passive income, or explore Trust Wallet for decentralized asset trading.

How to Buy Bitcoin With PayPal

Here's a concise guide on purchasing cryptocurrency with PayPal on the web and the app:

For web users:

1. Navigate to the Crypto section on your PayPal Dashboard.

2. Choose the desired cryptocurrency from the landing page.

3. Click 'Buy' and confirm your account if required.

4. Input the purchase amount and select a payment method.

5. Click 'Buy.'

For app users:

1. Tap 'Crypto' in the app.

2. Select your preferred cryptocurrency.

3. Tap 'Buy' and confirm necessary information if needed.

4. Read the Terms and Conditions, and tap 'Agree and Continue.'

5. Enter the purchase amount and tap 'Next.'

6. Choose a payment method and tap 'Buy Now.'

How to Buy Crypto on Coinbase

1. Log in to Coinbase.

2. Choose Buy/Sell in the upper right-hand corner.

3. Select your desired asset in the Buy panel.

4. Input the purchase amount in crypto or local currency.

5. Pick your payment method.

6. Click Preview Buy to review the transaction (use the back arrow if needed).

7. Confirm by clicking Buy, completing the purchase.

Conclusion: Do's and Don'ts of Buying Bitcoin

In conclusion, this comprehensive guide on how to buy Bitcoin has provided you with step-by-step instructions for purchasing BTC on popular platforms like Etoro, Binance, and Coinbase. The process for each platform is user-friendly, ensuring a seamless experience for both beginners and seasoned traders alike. As with any financial endeavor, certain do's and don'ts should be followed to maximize your success and security.

First, always do your own research (DYOR) to make informed decisions when buying or trading Bitcoin. Understand the platform's fee structure, security measures, and reputation within the market. Secondly, use proper security measures such as enabling two-factor authentication (2FA) and using strong passwords. Be cautious with your private keys and avoid sharing them with anyone.

On the other hand, refrain from investing more than you can afford to lose and avoid hurried decisions based on market hype, FOMO, or unverified information. Moreover, don't store large amounts of Bitcoin on exchanges—utilize personal wallets for better security. Lastly, don't ignore tax implications associated with trading and investing in Bitcoin, as compliance is crucial for long-term success. 

#BTC #Bitcoin

Arbitrum has rallied this week by 7%. Will it reach a new all-time high. 

Key Points:

Arbitrum has rallied by around 7% in the past week and by double digits in the last 30 days. 

The layer-2 scaling solution has become one of the most popular options for developers who want to avoid Ethereum’s high fees and slow transactions. 

Despite the network’s impressive TVL, its price has been struggling. 

Arbitrum ($ARB) has posted modest gains in the past 24 hours, adding to its double-digit monthly rally. The Ethereum layer-2 scaling solution is one of the leading cryptos in its category, and it has outperformed many comparable cryptos in terms of total value locked (TVL). 

However, it's trading at a considerable discount from its all-time high. Let’s find out if the $ARB price can reach a new all-time high, according to the Arbitrum price prediction experts. 

What Is Arbitrum?

Arbitrum ($ARB) is an Ethereum layer-2 scaling solution that has proven to be one of the most popular Optimistic Rollups on the market. This type of scaling solution operates by moving bunches of Ethereum transactions off-chain for processing using ‘fraud proofs’ for validation. 

As the name suggests, the network is ‘optimistic’ about the transactions, which means it assumes none of them are fraudulent. A time window is offered for users to appeal transactions that they believe are fraudulent, and the validator that actioned them is penalised if they are found to have participated in on-chain fraud. 

The Arbitrum main net went live in 2021, and its native $ARB utility token was airdropped to eligible wallets. The project’s most valuable use cases are the following:

Ethereum Scaling: At the heart of Arbitrum is the objective of making Ethereum more scalable and efficient by processing transactions off-chain. 

DeFi: Several leading DeFi protocols, including Aave ($AAVE) and Curve Finance, have deployed on Arbitrum. 

dApps: Popular dApps, including Uniswap and GMX, have been deployed on Arbitrum. 

Arbitrum and the $ARB token have seen impressive adoption since launch due to their solid track record as a layer-2 scaling solution. The fact that its TVL has been on the rise even as other projects struggle shows how much trust developers have in the network. 

Arbitrum Tokenomics 

$ARB has a maximum supply of 10 billion, of which 1.25 billion tokens are in circulation. With a market capitalisation of over $1 billion, it's a top 50 crypto.

Arbitrum Price History 

$ARB was airdropped to eligible wallets in March this year with a market value of around $1.2. In the first few weeks, the token surged to its current all-time high of $1.7 but then proceeded to crash. 

Since reaching its all-time high, $ARB has dropped by around 50% to today’s price of $0.84. It first slipped below $1 in June, and earlier this month, it reached an all-time low of around $0.7. 

The weekly surge has pulled $ARB well above $0.7, but many of the traders may be looking to take profits instead of holding long-term. 

$ARB surged in the last week shortly after it reached an all-time low price at the start of the month. Source: Binance

Latest Arbitrum News

By far, the biggest Arbitrum news story is the upcoming token unlock. Scheduled for March next year, an estimated 1.1 billion tokens will be unlocked, nearly double the current supply of 1 billion. Even though the unlock is still months away, it has sent jitters through the $ARB market. However, it's worth noting that the project continues to grow its ecosystem even with the concerns around the token’s supply. 

Arbitrum has been stuck below $1 for several months, possibly due to an upcoming token unlock.

Arbitrum Price Predictions

Coincodex expects the Arbitrum price rally to continue and reach $0.9 in the next month. They’ve set a $1.7 maximum price target for next year, suggesting a potential new all-time high and in 2025, they see it trading as high as $6. 

Changelly’s Arbitrum price prediction is flat for the next 30 days, but they’re confident that it will outperform the market for the rest of the year and move above $1 before the new year. They’re optimistic that $ARB will hit a new all-time high either in late 2024 or early 2025. 

Techopedia has added to the general positivity around Arbitrum price predictions. Their analysts see $ARB closing out this year well above $1 and reaching a new all-time high next year during the Bitcoin halving. 

Unlike numerous social media commentators, the price predictions for Arbitrum suggest the token unlock next year won't lead to a price crash. On the contrary, the Arbitrum price prediction landscape is bullish. Most analysts expect Arbitrum to trade above $1 this year and set a new all-time high next year or in 2025.

Will Arbitrum Reach All Time High?

Arbitrum has performed very well in terms of TVL since the token was airdropped earlier this year, but its price has been dropping. Since dipping below $1, many traders have pointed at next year's massive unlock to justify the bearish case. However, according to most analysts, the Arbitrum price forecasts is bullish, and next year will see $ARB move above $1. 

#crypto2023 #cryptocurrency

eCash has pumped by over 15%, and some price predictions suggest more gains could be on the way for this struggling crypto.

Key Points: 

eCash price has jumped by over 15% in the last 24 hours. 

Even with the recent surge, most eCash holders are in the red. 

The eCash rally came as larger cap cryptos posted modest gains following a rocky few weeks. 

eCash ($XEC) pumped by over 15% today, adding to its monthly gains and pushing it into the green YTD. The eCash peer-to-peer (P2P) payments project has been struggling since the 2021 bull market ended, but the recent surge has given the bulls a glimmer of hope. Let’s dive into the project’s details and examine the leading eCash price predictions. 

What Is eCash?

eCash ($XEC) was born out of the ashes of a failed ecash service set up by Dr. David Chaum in the 1990s. The e-cash startup failed, but in 2018, he re-launched ecash using blockchain technology. eCash was created as a fork of Bitcoin ($BTC) and Bitcoin Cash ($BCH) and was previously called Bitcoin Cash ABC ($BCHA). 

eCash is fully EVM comparable and uses a proof-of-stake (PoS) consensus system, unlike Bitcoin and Bitcoin Cash. It’s designed to settle transactions faster and more efficiently than other Bitcoin forks. Its primary use cases are the following: 

Peer-to-peer payments: eCash can be used for sending and receiving payments just like Bitcoin, but its developers argue it offers a better service for a lower cost.

Cross-border transactions: eCash can be used for cross-border transactions without the same restrictions that hamper traditional financial transactions. 

Micropayments: Due to eCash’s low fees, it's ideal for carrying out micropayments. 

Beyond the standard payment use cases that we’ve become accustomed to with Bitcoin forks and competitors, the project’s EVM compatibility allows for the deployment of dApps.

eCash Tokenomics 

eCash ($XEC) has a maximum supply of 21 trillion and a circulating supply of 19 trillion. With a market capitalisation of $527 million, it's a top 100 crypto, and its 24-hour  trading volume regularly exceeds $25 million. 

eCash Price History 

The eCash price surged by 15% early this morning and has since been trading flat around $0.000027. However, if we zoom out on the chart, we can see that the recent surge leaves plenty to be desired. 

In September 2021, eCash rallied to its all-time high of $0.00038001. The bull market euphoria quickly wore off, and since then, $XEC has been in a death spiral. By January 2022, it had lost half of its market cap, and then, amidst the FTX collapse, it was around 95% below its all-time high. 

The grim trajectory continued in the first half of 2023, and by June, eCash’s market capitalisation was under $400 million. A short-lived rally took place in July, but another crash followed that. Today’s pump has driven the market cap above $500 million again, but recent history suggests it could be a short-lived moment of joy for eCash bulls. 

eCash surged today, but it's still over 90% below its all-time high. Source: Binance

eCash Price Predictions

Coincodex has issued a bullish eCash price prediction that sees the crypto trading higher next month and potentially posting a 2X next year. They expect it to trade around $0.00005 at the lowest for the next two years and then surge towards its all-time high towards the end of the decade. 

Changelly is not very optimistic about the eCash price in the short term, with a 10-20% forecasted eCash price drop in the next couple of months. They expect modest gains in the single digits next year before a rally in 2025 pushes the token 100% higher. They also believe a new all-time high is on the cards for the decade's end. 

Digitalcoinprice’s average 2023 eCash price prediction suggests a 100% rally is on the cards, which is far more optimistic than the majority of other price predictions. Digitalcoinprice is also one of the few analysts forecasting a new all-time high before the end of 2027. 

Overall, eCash price predictions are bullish in the long-term, even though most experts don’t expect a new all-time high any time soon. In the short term, the picture is mixed, Changelly expects recent gains to melt away, while others predict more returns in the coming weeks and months. 

Many traders have speculated that eCash will join other Bitcoin hard forks in the grave, but most price predictions suggest otherwise. 

Latest eCash News

There haven’t been any major news stories about eCash for a while, so the recent pump is most likely a product of traders and investors looking for a bargain. A couple of notable upgrades were made to the network earlier in the month, including a performance update and improved payment URLs. 

Despite eCash’s price crash since 2021, improvements to the network continue to be rolled out. Source: Twitter 

Conclusion

eCash is one of many Bitcoin forks that has failed to live up to the promise of out-competing Satoshi’s vision. Since 2021, $XEC has performed extremely badly, and even after the recent surge, its price is well over 90% below its all-time high. However, the eCash price predictions generally form a positive consensus, especially in the long term. 

#crypto2023 #cryptocurrency

Know how many people own Bitcoin, how $BTC whales react to market conditions, and explore long-term BTC ownership trends.

Altcoins, despite their number surpassing 10,000, have not been able to pose a significant challenge to Bitcoin's dominance in the market. Satoshi Nakamoto’s alternative to traditional money remains the market leader with a market capitalization above $500 million.

But just how widespread is Bitcoin ownership? Using Glassnodes on-chain data, this post will tell you how many people own Bitcoin, how $BTC whales react to market conditions, and explore long-term ownership trends. 

$BTC Addresses Hit All-Time High In May 2023

Overall number of holders can indicate the popularity of a respective coin/token.

Bitcoin ($BTC) started 2023 trading at around $17k and has since settled in a range between $25-30K. That positive price action has been accompanied by a significant uptick in the number of $BTC wallet addresses. With that being said, how many people own Bitcoin as of now?

Glassnode Alerts posted a Tweet on May 17th showing that the number of Bitcoin addresses had hit an all-time high of 12,051,18. Glassnode only took into account wallets with over $BTC 0.01, which suggests that there are likely more than 12 million Bitcoin holders inclusive of very small balances. These balances, however, are referred to as “dust”, and are not included in Glassnode holder figures as a result.

Short-Term Drop in Wallets Holding over $BTC 0.01

While the long-term trend is clear, there have been notable short-term fluctuations. Following the 2019 crash, which saw $BTC drop from $11k to just below $6k, the number of wallets holding over $BTC 0.01 dropped quickly. However, the drop was very short-lived and recovered entirely in early 2022. 

Interestingly, the growth remained steady in 2022 regardless of negative market settlement. Not even the FTX crash at the end of 2022 could halt the steady expansion of Bitcoin addresses tracked by Glassnode’s research despite $BTC losing 25% of its value. 

Since January 2023 $BTC’s price has jumped from below $20k to just under $30k. The price spike has been accompanied by an equivalent increase in the number of addresses holding at least $BTC 0.01. 

Glassnode Chart showing a continuous increase in Bitcoin addresses

Activity on $BTC Whale Wallet Addresses

The number of Bitcoin wallets holding over 1,000 tokens shows a more complex evolution over time than smaller addresses. While Glassnode has found that smaller addresses have been consistently growing regardless of market conditions, in the long term, whale addresses fluctuate much more. 

On May 17th, Glassnode Alerts posted a Tweet showing that the number of whale addresses hit a five-month high of 1,686 just as the number of 0.01 addresses hit a complete all-time high. 

The data suggests that whales are far more sensitive to market conditions as they sell and buy $BTC depending on the short-term outlook. The number of whale addresses is still below where it was before the FTX crash, unlike the smaller addresses, which have already surpassed the pre-FTX high. 

Conclusion 

The growing adoption of $BTC is resistant to market conditions, according to Glassnode data on smaller wallet addresses. Even in the context of terrible macro data and black swan events like the FTX collapse, the number of Bitcoin wallets holding at least $BTC 0.01 continues to hit all-time highs. Whales are clearly more sensitive to market volatility, and despite hitting a five-month high, their number of addresses is still below the pre-FTX high.