### In a promising sign for the Bitcoin market, the smallest holders of the cryptocurrency, known as "shrimps," are aggressively stacking their digital assets, according to a recent report by Glassnode. On-chain data reveals that shrimps, representing Bitcoin addresses holding less than 1 BTC, have accumulated at such a rapid pace since 2017.

<blockquote className="twitter-tweet"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> Shrimp (&lt; 1 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>) 🦐 are stacking sats at a rate of 33.8k <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> per month. Issuance 🔵 is ~27.0k <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>/mth For every 1 new coin, Shrimp are taking 1.25 off the market. Crazy conviction on display. <a href="https://t.co/2n7BdwBuWw">pic.twitter.com/2n7BdwBuWw</a>— _Checkɱate 🔑⚡🌋☢️🛢️ (@_Checkmatey_) <a href="https://twitter.com/_Checkmatey_/status/1676498354359111681?ref_src=twsrc%5Etfw">July 5, 2023</a></blockquote> 



Lead Glassnode Analyst James Check shared on Twitter that shrimps are currently acquiring an average of 33,800 BTC per month. This surpasses the monthly issuance of new BTC by the network, which stands at 27,000 BTC. 



Interestingly, while the fastest accumulation phase for shrimps occurred during the post-FTX-panic period when Bitcoin's price plummeted to a 4-year low of $15,500, the rate at which shrimps are purchasing Bitcoin in dollar terms is the highest since the peak of the 2017 bull market.



Furthermore, "crabs," entities holding between 1 and 10 BTC, are also adding to their holdings with an additional 22,400 BTC per month. This represents an impressive 83% of the mined supply. May 2023 marked a milestone as the number of addresses holding over 1 BTC surpassed 1 million for the first time.



These patterns of accumulation become relevant when considering Bitcoin's halving event, which occurs approximately every four years and reduces the supply issuance rate. Some believe this event influences the 4-year price cycle of Bitcoin. The next halving is scheduled for April 2024. 



Overall, the increased accumulation by shrimps and crabs, along with the long-term holding patterns observed in the market, paint a potentially bullish picture for Bitcoin's future. This article is not financial advice.

In a promising sign for the Bitcoin market, the smallest holders of the cryptocurrency, known as "shrimps," are aggressively stacking their digital assets, according to a recent report by Glassnode. On-chain data reveals that shrimps, representing Bitcoin addresses holding less than 1 BTC, have accumulated at such a rapid pace since 2017.

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