Top fifteen Bitcoin addresses and why they're therefore necessary in 2021

in LeoFinance4 months ago

Bitcoin may have peaked in 2020, but there are reasons to emphasize the importance of the top 15 richest addresses in 2021.

Transparency is one of the most attractive aspects of cryptocurrency, and ease of access and unrestrictedness have led many early investors to turn to bitcoin.

China Blockchain technology allows everyone to see information related to network performance. All known addresses, transactions and other details related to multiple signatures and the use of Sagittarius are on display.

For some reason, 15 of the top and richest bitcoin addresses have always been the focus of attention. Some researchers routinely check the top addresses to find traces of Bitcoin creator Satoshi Nakamoto . Others use data to track whale movements and predict market manipulation that could lead to Bitcoin price fluctuations .

Top addresses have even attracted the attention of government agencies such as the US Internal Revenue Service as well as the Treasury Department.

In fact, all companies are made up of experts to learn more about cryptocurrency addresses and their potential associations. It is no secret that the US Internal Revenue Service has hired cryptocurrency analysts Chainalysis and Integra FEC to track transactions. Recently, the US Treasury Department, under the direction of Steven Manuchehr, is examining whether host cryptocurrency wallets need a law. 

Bitcoin addresses do not represent individuals

As shown below, the top 15 addresses have 1.07 million or 5.7% of the total bitcoins offered. Taking into account the current price of $ 29,550 per bitcoin, the total value of these addresses is over $ 31 billion. While this is a huge amount, keep in mind that Bitcoin's daily trading volume has exceeded $ 5 billion.

Bitcoin addressTop 15 Bitcoin Addresses

It should be noted that the date of initial deposit of the currency to the address does not mean that the person holding the address first received the currency on that day. Currencies can be sent to a new address from another address owned by the same person. Therefore, the dates of sending the first funds to 11 addresses from 2018 do not prove that the owners of the addresses are newcomers to the market.

Note that none of these top 15 addresses belong to Satoshi. Researcher Sergio Lerner has proven that blocks extracted by Nakamoto have unique patterns known as Patoshi patterns. Although the bitcoins extracted with this template have never been transferred, they are located at more than one address.

Share 100 addresses of total supply

The top 100 addresses account for 15.7% of the total supply, which is a significant figure compared to the level of distribution in traditional markets. For example, the top 20 PayPal-owned funds hold 19.7% of the total shares offered.

Five of the 15 addresses listed are known addresses from exchanges that indicate that the current density is not such that it can be attributed to whales.

In addition to exchanges that have large amounts of bitcoins in their wallets, some administrators also accumulate bitcoins for many customers in wallets that are distributed through multiple addresses with large amounts.

These top addresses belong to new owners and are not compatible with Segway

Eight of the top 15 addresses did not pick up a single Satoshi. With the exception of 5 addresses belonging to exchange offices that have transferred only 20% of their currencies. This indicates continued accumulation by long-term holders.

In addition, 11 of the 15 addresses listed for the first time were used less than three years ago. There have been various reasons for this, including enhanced security measures, changes in oversight, or various ownership structures.

Only two of the top 15 addresses (and three of the top 200 addresses) are compatible with the Bech32 Segway format. This format can significantly reduce transaction fees. This shows that users resist change despite the obvious benefits of low-cost transactions. More interestingly, the Bit Phoenix cold wallet, ranked second on this list, is the only case that has had an outbound transaction so far.

Continue accumulating at several mysterious addresses

The rich third address seems somewhat mysterious, as it contains 94,506 bitcoins intact. After Glass Nood reported that 73,000 of the bitcoins in the wallet were transferred from the Hubby exchange. This address made headlines in September 2019.

Many analysts said the currencies were linked to the Panzi Plus Token scheme, but these claims were refuted by Chinese police with the seizure of 194,775 bitcoins on November 19, 2019.

The fourth address

With the exception of the fourth largest wallet, which contains 79957 bitcoins as of March 2011, 20 of the top 300 addresses are more than 9 years old. Although no one can prove that these funds have been lost, most people think so.

The number of currencies available in these 20 addresses reaches 313013 and has had only one outbound transaction address since its creation. Therefore, with the exception of the 9000 F2Pool pool bitcoins stored at 1J1F3U7gHrCjsEsRimDJ3oYBiV24wA8FuV, it is very likely that funds at other addresses have been lost.

The fifth bitcoin address

The fifth ranked address was created in February 2019 and was initially ranked 81st as the largest addresses. Since then, the address has been constantly accumulating, and in June 2019, 4,000 bitcoins were added to the wallet in a transaction. The lowest accumulation is related to December 2019 with one bitcoin. Although this address is a large accumulator, it has performed seven outbound transactions (from 786 to 3000 bitcoins).

Address FifthInventory fifth address

There are exactly 100 addresses that were first used between November 30 and December 18, 2018, and each contains 8,000 to 12,000 bitcoins. These addresses are said to belong to Coinbase Custody. According to, these addresses have 881471 bitcoins and this amount is equal to 96% of the cold wallet funds of this exchange.

The theory of the arrival of new whales

Every investor feels that the arrival of new Bitcoin whales is crucial to a steady uptrend, although there is no credible evidence of this effect so far.

New addresses are constantly being added to the list of top 300 addresses. For example, 16 of them received their first deposits in the last 30 days. Keep in mind that these are not necessarily new people, but addresses that are receiving Bitcoin for the first time.

Bitcoin addresses and prices

Although unusual, there are sometimes intervals of 50 days or more where no new addresses are added to the top 300. Coincidentally, these periods signal the end of the uptrend and are usually followed by a healthy correction.

Exactly from November 28, 2019 to February 9, 2020, when the price of Bitcoin increased by 35%, none of these top 300 addresses were used. Strangely enough, the price of the currency fell 52 percent 32 days later.

BitcoinBitcoin prices in Coin Base in early 2020

A similar incident occurred from October 18 to December 11, 2017. Bitcoin prices rose 193 percent during this period, while none of the top 300 addresses were new. Over the next 36 days, prices fell 34 percent.

BitcoinBitcoin prices in Coin Base in 2017

Prior to that, none of the top 300 addresses were used between April 20 and July 7, 2017. Bitcoin was up 111 percent at the time, but prices fell 24 percent in nine days after that period.

Uptrends and whales

So far, experience has proven that the new whale theory makes sense: during long-term uptrends in the market, a small number of new addresses are added to the top 300, indicating an accumulation by people who have previously held positions. On the other hand, the arrival of new whales could be due to fumo, which usually represents local roofs.

Therefore, it makes sense to monitor top addresses and data on the chain to evaluate possible corrections. Whenever large quantities of bitcoins enter exchanges, it indicates a very large sell order and traders consider it a sign of decline. These movements are then compared to the Bitcoin price caps and ceilings to find a connection between the transfer and the whales.

Impact of miners on price

During a bullish market, miners reduce their sales. But when they start moving their currencies again, analysts expect price correction. In order for things to go as normal, all 6,300 bitcoins mined must enter the market each week to reduce the impact of miners on price.

Now that investment institutions have entered the cryptocurrency market, investors are wondering whether they will continue to buy newly mined bitcoins in 2021.

While 2021 looks bullish for the cryptocurrency market, there are always unexpected declines in the market, often due to threatening government regulations. This means that tracking the top 15 bitcoin addresses and whale movements in 2021 will continue to be important for smart investors