While the price of Bitcoin (BTC) may have fallen sharply in recent times, the number of wallets with one or more BTC continues to grow. Such addresses with one or more BTC are also called ‘wholecoiners’.
Number of wholecoiners rising
In the past seven days, it appears that this number of addresses has increased by approximately 13,091. As a result, the total number of wholecoiners has risen to approximately 865,254. Now it turns out that especially when the BTC price goes down, the number of wholecoiners grows rapidly. The crypto monitor Glassnode has also noticed this. This increase is shown in the figure below. It is worth noting that the number of crypto addresses with at least 100 BTC has fallen by 136 in the same period.
Distribution of wealth Bitcoin network increasingly fair
When the first Bitcoin was mined by Satoshi Nakamoto on January 9, 2009, the so-called Gini coefficient 1, or the income inequality on the network, was the highest ever.
The Gini coefficient was developed by statistician Corrado Gini (hence the name Gini) and stands for income inequality or wealth inequality within a social group. In Bitcoin, this can be mapped to wallet addresses.
Once Hal Finney, one of the earliest Bitcoin believers, started mining and receiving Bitcoin through it, the aforementioned Gini coefficient of 1 dropped to 1. It has been steadily decreasing since then, indicating that the wealth distribution on Bitcoin network is becoming fairer.
