Bitcoin Retail Addresses With 10 BTC Jump to Never-Seen Highs: Details

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Despite price fluctuations, retail accumulation, as shown by the increase in the number of addresses with one or even ten Bitcoins, has remained consistent over the years.However, growth in the number of addresses with a balance of 10 or more Bitcoins does not necessarily suggest increasing market involvement. This is because these small balances could be remnants of large transactions or one-time user holdings.Bitcoin recovered to a high of $26,910 on Oct.

In August, a court chastised the SEC for rejecting Grayscale's attempt to convert its Bitcoin trust into an ETF.A person familiar with the situation stated on Friday that the regulator will not appeal the loss, increasing the chances that the Grayscale Bitcoin trust will be converted into an ETF. Several other asset managers, including BlackRock and Fidelity, have comparable SEC filings for a spot Bitcoin ETF pending. The SEC is expected to decide on such applications by next year at the latest.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.

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