Institutional Bitcoin Wallets Hits Record High; Mining Revenue Dips

Institutional Bitcoin Wallets Hits Record High; Mining Revenue Dips

1
The number of Bitcoin wallets holding 10 or more BTC hit a record high.
2
Bitcoin mining revenue saw a drastic fall; the public mining companies are considering offloading stocks in the market. 
3
Bitcoin (BTC) is trading at $25,750 losing over 10% of its value in the last month. 
Bitcoin (BTC) price is struggling to maintain the psychological level at $29,000, let alone breaking the crucial price point. Since mid-August 2023, BTC price broke the recent support levels and traded around $25,000. Despite the trading price of flagship cryptocurrency struggling, the crypto’s institutional interest was an uptick. 
Glassnode data suggests the number of crypto wallets with more than 10 Bitcoin (BTC) is at record high levels. It attained the highest point of 157,426 wallets keeping at least 10 Bitcoin while the cryptocurrency was trading at $25,776 on September 5, 2023. However, at press time, it saw a slight decline and the number slid to

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