More than 65% of Bitcoin Addresses are in Profit, 10% more than a Year Ago

September 26, 8:33 am

In just two months, the world's largest crypto, Bitcoin, has lost nearly 15% of its value. After reaching this year's high of nearly $31,500 on July 15, Bitcoin's price dropped to $29,000 in the following weeks. It continued struggling for direction in September, fluctuating between small gains and losses amid decreasing liquidity. But, the number of investors who earned from putting money into Bitcoin is still higher than last year.

According to data presented by AltIndex.com, more than 65% of BTC addresses are in profit, 10% more than in September last year.

BTC Addresses in Profit Rise, while Share of ETH Investors with Gains Drops

Despite the ups and downs and regulatory twists in past months, Bitcoin remains one of the best performers in the crypto space. Although the world's largest crypto might not be on track for its best annual performance since 2020, like it seemed just two months ago, the number of Bitcoin investors with positive returns has still increased.

According to data from crypto analytics platform Glassnode, in September last year, 55.7% of BTC addresses were in profit. Bitcoin's price stood at $19,545 at that time. After falling to roughly 50% by the end of the year, the share of Bitcoin investors with gains jumped to over 72% in February. Five months later it peaked at over 78%, the highest percentage since May last year, but it was downhill from there. Statistics show Bitcoin's price drop in August and September cut the number of addresses in profit by 13%, but it still remained 10% higher than a year ago.

Unlike Bitcoin, Ethereum has seen the number of addresses in profit drop year-over-year. The Glaassnode data show that 53.2% of ETH investors had positive returns last week, down from 55.7% in September 2022. This data is even more interesting if knowing that ETH price jumped by 20% in this period, rising from $1,378 to $1,650.

Over One Million People Hold More than One BTC in their Wallets

Besides a 14% increase in profitable addresses, the Bitcoin network has also seen a growing number of retail and institutional investors searching for a bigger investment chunk.

According to Glassnode, the number of unique addresses with at least one BTC in their balance has jumped by 100,000 year-over-year, reaching 1.02 million last week. Statistics show around 157,500 investors hold more than 10 BTC in their wallets, 5% more than in the same month a year ago, while the number of crypto wallets with 100 BTC remained almost unchanged and stands at nearly 16,000.

On the other hand, unique addresses with an impressive 1,000 BTC in their balance decreased, falling by 6% year-over-year to 2,005 in September.

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