On-chain data shows the number of Bitcoin sharks has continued to increase recently, but the whale count on the network has hit stagnation.
Bitcoin Sharks Have Continued To Go Up In Number Recently
According to data from the on-chain analytics firm Santiment, the number of whales on the Bitcoin blockchain has observed a slight decline during the last couple of months.
The relevant indicator here is the “Supply Distribution,” which measures the total number of addresses that belong to each of the wallet groups on the network.
The addresses are divided into these “wallet groups” on the basis of the total amount of BTC that they are carrying in their balances right now. In the context of the current discussion, there are four such cohorts that are of interest: 0-0.01 coins, 0.01-1 coins, 1-100 coins, and 100+ coins.
Naturally, an address belonging to any of these groups would have its balance inside the range of the group in question. So if the Supply Distribution is applied to th
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