Over the past week, the trend towards bitcoin accumulation has continued among various market participants. Active demand was demonstrated by the Luna Foundation Guard and MicroStrategy, as well as institutional and retail investors.

this #Bitcoin the network has mined its 19 millionth $BTCIt is 1.7 times more than the daily circulation, while it is only accumulated by the Shrimps.

Also this week, purchase flow from Luna Foundation Guard, intro to Purpose ETF and 1k+ $BTC whales.

Read our analysis👇https://t.co/o0S5AsYPYO

– glass knot (@glassnode) April 4, 2022

Analysts warned that the perception of bitcoin as a scarce asset may again prevail, considering that miners have already mined 19 million of the 21 million provided by the algorithm, and the accumulation is many times greater than emissions.

The coin exit rate from centralized platforms has increased to 96,200 BTC per month, which was quite rare in retrospect. Currency balances fell to August 2018 levels, breaking the plateau observed since September 2021. This trend was also typical for platforms that have recorded significant inflows of coins in the last 12-24 months.

The number of coins that tend to hoard in Bitcoin addresses has increased by 217,000 BTC to 2,854,000 BTC since Dec. Analysts in this example excluded the addresses of exchanges and miners, but included custodians and companies such as the Luna Foundation Guard and MicroStrategy.

Based on the calculations presented, you can achieve a daily growth rate of 1800 BTC. While the market was in a downward trend during this period, it doubled its issuance rate and returned to its original levels in just the previous three weeks.

Analysts have noticed that the so-called “shrimp” (addresses with a balance of less than 1 BTC, excluding customers of retail platforms) also contribute to coin accumulation. Since January 22, they have accumulated 0.58% of the market supply, bringing their share to 14.26%. Rates exceeded the problem by 1.7 times.

In addition to retail investors, whales with a balance of over 1000 BTC also contributed significantly to the development of the trend. Specifically, the Luna Foundation Guard, which has accumulated 30,727 BTC.

Added 12,500 BTC (up to 275,236 BTC) to the BitGo custodian wallet to mine a “wrapped” version of digital gold.

Analysts have also recorded 5,521 BTC inflows into the Purpose Bitcoin ETF since the end of January 2022. A similar trend can be seen in other Canadian spot exchange-traded funds based on the first cryptocurrency. Total entry in the industry was 6,594 BTC up to 69,000 BTC.

Recall that on March 28, the price of the first cryptocurrency reached $ 47,650, the highest level since the beginning of 2022.

Glassnode analysts previously warned of an impending increase in Bitcoin volatility.