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Cryptocurrency News Articles

Retail Investors Have Been Liquidating Their Bitcoin Wallets Recently, But Buying into XRP and Ethereum

Feb 14, 2025 at 05:00 pm

In a new post on X, the on-chain analytics firm Santiment has discussed about the latest trend in the Total Amount of Holders for the top three assets

Retail Investors Have Been Liquidating Their Bitcoin Wallets Recently, But Buying into XRP and Ethereum

On-chain data shows that retail investors have been selling their Bitcoin (CRYPTO: BTC) wallets but buying into XRP (CRYPTO: XRP) and Ethereum (CRYPTO: ETH).

According to a new post from on-chain analytics firm Santiment, the Total Amount of Holders for the top three cryptocurrencies has been trending in opposite directions.

The "Total Amount of Holders" is a metric that measures the total number of addresses carrying a non-zero balance on a given network.

When the metric increases, it can indicate that new investors are joining the blockchain or that old investors who sold earlier are investing back into the asset. It can also occur when existing users distribute their holdings across new addresses for privacy purposes.

Generally, all three of these actions are assumed to be happening simultaneously whenever the metric registers an increase.

An increase in the Total Amount of Holders can be interpreted as a signal of some net adoption of the cryptocurrency.

On the other hand, the metric decreasing implies that some of the investors have decided to clear out their wallets, potentially because they want to completely exit from the coin.

The chart below, shared by Santiment, shows the trend in the Total Amount of Holders for Bitcoin, Ethereum, and XRP over the last several months.

As shown in the chart above, the Total Amount of Holders has been following an upward trajectory for XRP and Ethereum for a while now, implying that new investors have been constantly joining these networks. Out of the two, XRP is currently observing adoption at a faster rate.

While these coins have been enjoying an influx of holders, Bitcoin has been telling a different story. Earlier, the world's leading cryptocurrency was seeing its Total Amount of Holders move sideways; however, recently, the metric has started to see an outright decrease, implying that investors are now actively exiting the network.

In the last three weeks, the number of non-empty addresses on the BTC blockchain has reduced by around 277,240, which is a notable amount.

Considering that whales are generally few in number, any large decline in the Total Amount of Holders usually reflects the outgoing of retail entities.

However, the retail investor exodus may not be so bad for Bitcoin. As Santiment has explained in the past,

"Historically, these declines in retail belief are a positive sign for mid to long term price performances. When coins are shed by small traders, whales and sharks accumulate them and use their capital to drive up markets when crowd FUD is at its highest."

BTC Price Action: Bitcoin has been unable to amass together any lasting bullish momentum recently as its price has taken to sideways movement. At present, BTC is trading at around $95,800.

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Other articles published on Feb 15, 2025