Bitcoin Supply Is Moving From American Holders To Asian Wallets: Glassnode

Recent data from Glassnode shows that there has been a shift in Bitcoin supply from US wallets to those based in Asia. The on-chain analytics firm categorizes Bitcoin addresses by the hours they have been active to determine their regional locations, and the data reveals that in recent months there has been a marked year-over-year change in Bitcoin supply held by Asian-based wallets.

The amount of Bitcoin held by wallets located in Asian countries has significantly increased compared to the same period for 2019. This shift in Bitcoin supply is likely a result of an uptick in trading activity and an increase in new money entering the crypto space from these regions. The most notable change in supply can be seen in BTC held by Chinese wallets, which has increased by almost 56% compared to the beginning of the year.

The data from Glassnode further reveals that the amount of Bitcoin held by wallets in the US has dropped by almost 13% in the same period, suggesting that American investors and traders are becoming less involved in the Bitcoin market.

The latest data from Glassnode indicates that there has been a shift in Bitcoin supply from US wallets to those based in Asia. Notable increases in supply can be seen in wallets located in Chinese, Japanese, and Korean markets, while US-based wallets have seen decreased levels of Bitcoin.

Robert Wilson
Robert Wilson author

As the overseer of NicheBot's editorial content, I am committed to ensuring that all information published on our website is both accurate and relevant to our readers. My fervent support for the crypto industry has led me to closely monitor the developments within it since 2012, and I have contributed extensively to discussions and debates surrounding the world of Bitcoin.

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