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Distribution of bitcoins in users' wallets and transaction fees

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Whales have become regular participants of the Bitcoin market (BTC) , often moving large amounts of the main cryptocurrency between exchanges , thereby arresting community interest. The market’s turbulent response to large-scale transactions leaves wallets with a relatively small BTC balance in the shadow.

The latest report of the analytic company for cryptocurrency Longhash indicates a noticeable discrepancy between the Bitcoin addresses, which creates a kind of bottleneck. In a report referring to BitInfoCharts data, it is reported that over 18 million BTC addresses contained from $ 1 to $ 100.

Longhash added that the reason for this kind of bottleneck is the “commission per transaction” of digital assets, which can fluctuate.

In addition, only one third of the above number, or 6.1 million addresses contain bitcoins in the amount of $ 100 to $ 1000. If you look at higher balance sheets – from $ 1,000 to $ 10,000, the number of addresses will decrease by more than 62% , their number is about 2.29 million.

And only 541,959 addresses contain BTC in the amount of more than $ 10,000. The report also analyzes the apparent imbalance between address balances:

“Although this distribution may be a positive sign that bitcoin is not only for wealthy people, high transaction fees can be an obstacle for small owners.”

The report adds that commissions for Bitcoin transactions registered this year were quite low, allowing you to use Bitcoin as an "effective tool for daily payments." However, with an increase in commissions in the middle of the year, the cost of the transaction processed in the next block reaches $ 2.54.

Taking into account the commission structure of Bitcoin, we see that the movement of whales leads to small commissions, while for small transactions it is too high. Consequently, the transaction structure itself is a stimulus for accumulating and sending large amounts in bitcoins and prevents small transfers.

The output of the report was the following statement:

“A large number of small BTC holders may seem encouraging, the high transaction fees may mean that at present, it is unlikely that many will spend their BTC. A huge number of small Bitcoin holders illustrate the need for scalable solutions that would limit the periodically increasing transaction fees. ”

Publication date 10.06.2019
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Bitcoin rate will grow from $ 16,000 to $ 62,000 by the end of 2019, analysts' forecasts

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Strengthening the position of Bitcoin creates the conditions for the emergence of more aggressive forecasts regarding the future dynamics of the movement of the coin.

Back in January, one of the analysts who wished to remain anonymous, successfully predicted the trajectory of Bitcoin from April to July. He said that BTC would first overcome the $ 5,300 mark, and by the middle of summer it would trade at $ 9,200 and was right.

In addition, the analyst predicted a cryptocurrency breakthrough to $ 16,000 by October 2019 and announced the continuation of a positive trend throughout the whole next year.

However, in social networks from traders sound more aggressive statements about the prospects of the coin. One of the optimists, a trader under the nickname Galaxy, posted a tweet post in which he announced a bitcoin jerk to $ 62,000 by the end of October.

The forecast is initially perceived as fiction, but if you read the post of the analyst, then you can believe in it.

Galaxy said that in 2017 we observed a similar trend, which resulted in a 570% rise in Bitcoin over 147 days. If we take as a basis the schedule of the course of the two-year-old asset and project it on the current situation, then we can expect an increase in the price of Bitcoin to $ 62,000 by the end of October.

Many Twitter users find the trader’s forecast to be more or less realistic, but they doubt the possibility of such an aggressive jerk of the coin. But there are those who say that such forecasts are not based on anything, and publishing them on the network only aims to increase the number of subscribers.

Publication date 19/06/2019
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Tom Lee: over the next months, the BTC rate will increase by 4 times

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Bitcoin bull Tom Lee believes that the flagship cryptocurrency is close to the FOMO rally, with the result that the value of the coin can rise to $ 40,000 over the next few months.

Tom Lee, head of Fundstrat Global Advisors, noted that the Bitcoin cryptocurrency rate is close to $ 10,000, which could serve as a trigger for the FOMO. Lee refers to the events that occurred at the end of 2017, when the price of BTC, approaching the level of $ 10,000, increased in two days to $ 20,000.

On Monday, the BTC rate overcame the $ 9,000 mark, and after the Libra crypto-project from Facebook was introduced, the cost rose to $ 9,200. It is assumed that the Libra project is proof for society that cryptocurrencies are becoming increasingly popular, large companies, including financial ones, are particularly interested in them. Lee also noted that on the same day, the value of GRAYSCALE BITCOIN TRUST (GBTC) shares rose by 11%, reaching $ 12, which was not observed since July 2018.

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The launch date of the new Ethereum 2.0 blockchain algorithm has become known – January 3, 2020

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Developer Justin Drake (Justin Drake), according to Trustnodes , called the date of transition of the Ethereum network to the second version of the protocol and the introduction of the consensus mechanism Proof of Stake (PoS). According to him, Ethereum 2.0 will become a reality in seven months – January 3, 2020, exactly 11 years after the extraction of the genesis-block of Bitcoin .

Drake also said that the developers of Ethereum for less than two weeks – until June 30 – should finalize and approve the specifications of the zero phase. Before generating the genesis block, they will have to launch a deposit contract for the accrual of funds to validators – and present it at the Devcon conference in Japan in October.

Thus, according to Drake, over the next three months, developers should collect at least 2 million ETH, and in seven months, bring the product to a “production stage”, that is, a test network that has been working for quite a long time without significant flaws and has passed a security audit, for at least two customers.

Recall that the founder of Messari, Ryan Selkis (Ryan Selkis), expects that the transition of Ethereum to the second version of the protocol will take place no earlier than 2021. In early May, Prestmatic Labs co-founder Preston Van Loon announced the public launch of a test network for Ethereum 2.0 – Sapphire – created on the basis of the Casper protocol with PoS consensus algorithm and support for stacking.

Publication date 18.06.2019
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Name Price24H (%)
Bitcoin (BTC)
$9,173.00
-0.31%
Ethereum (ETH)
$268.82
-0.32%
XRP (XRP)
$0.435410
-1.18%
Bitcoin Cash (BCH)
$416.97
-0.86%
EOS (EOS)
$6.91
-1.21%
Stellar (XLM)
$0.126069
-1.29%
Litecoin (LTC)
$137.90
5.05%
Cardano (ADA)
$0.091419
1.04%
Tether (USDT)
$1.00
-0.02%
Monero (XMR)
$100.19
2.46%
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