Happy Monday, Blockfolians
For many years, one bitcoin narrative has gone that, while the market might have been built by all us retail weirdos out here, the institutions are where the real money is going to come from.
Certainly, we’ve seen more interest this year from the professional set (Paul Tudor Jones, anyone?). But according to research from derivatives exchange ZUBR, we shouldn’t count retail out yet.
In fact, according to their report, the number of wallets holding small balances between 1 and 10 bitcoins have risen rapidly. In total, they hold over 500,000 bitcoin worth some $4.6B. That’s up from 100,000 since the start of 2019.
In other words, don’t count us weirdos out yet when it comes to shaping the future of these markets.
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Highly Relevant Reading
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Ari Paul goes deeper on EIP1559 mentioned above, including why he thinks it is “make or break” for Ethereum
A Really Big Number We Should Be Paying Attention To
That’s the amount of liquidity drained from buzzy DeFi startup Balancer in an attack that the project admitted “they didn’t realize was possible.”
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