Bitcoin Tourists Disappearing, Hodlers on the Rise, Glassnode Confirms

The number of short-term Bitcoin holders is decreasing, while the number of new wallets is rocketing.

Bitcoin Tourists Disappearing, Hodlers on the Rise, Glassnode Confirms

The most recent report by the on-chain market intelligence Glassnode has brought some interesting insights into the development of the past few months. While many short-term BTC holders are selling the asset, the number of new wallets is growing steadily.

In the midst of market turmoil, the so-called “Bitcoin tourists” are getting rid of their assets, while long-term “hodlers” are still keeping them.

In fact, the balances of “whales,” or those who hold more than 1,000 BTC have increased, as well as those of the so-called “shrimps,” or investors with one Bitcoin or less, who now feel this is their chance to buy the dip, while the price of the asset is low ($19,760.48 at the time of writing).

“The Bitcoin network is approaching a state where almost all speculative entities and market tourists have been completely purged from the asset,” Glassnode writes in its report.

Another interesting fact was the statistics on daily active Bitcoin addresses. Since November last year, it has fallen from 1 million daily active wallets to approximately 870,000 per day at the moment.

In conclusion, the number of Bitcoin wallets that have a non-zero balance on them is hitting new all-time highs. Currently, it sits at 42.3 million addresses. This means that despite the heavy bear market, the interest in the digital asset is growing.

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