Retail Investors Missing in Action as Shrimp BTC Addresses Hit 3-Year Low
As of today, the number of shrimp addresses has dropped to just 260,000, a sharp decline from the 590,000 recorded during the 2021 ATH.
Even at the April 2024 ATH, the number had already decreased to 490,000, indicating a consistent downward trend in small-holder participation.
This decline paints a broader picture of weakened retail engagement. Supporting this, the 30-day average of address activity is significantly below the yearly average, reinforcing the notion that the average retail investor is staying on the sidelines.
This data aligns with the broader observation that network activity on the Bitcoin blockchain remains relatively weak, despite bullish price action. The lack of retail enthusiasm suggests that the current market surge is likely being driven by larger players and institutions rather than a widespread wave of individual investors.
Its important to acknowledge that some shrimp addresses may have transitioned to higher holding categories over time. However, this shift accounts for only a minority of the overall drop, and doesnt fully explain the steep decline.
In summary, while Bitcoin continues to make headlines with its price performance, the underlying data tells a more nuanced storyone where retail investors have yet to return in force.
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Text source: Coindoo
