Reports & Analysis

Take a look at the rich bitcoin addresses; Anonymous Lords

Take a look at the rich bitcoin addresses;  Anonymous Lords

These days, when many people are familiar with bitcoin and are hoping to grow their small capital, given the upward trend of this digital currency, the big bitcoin holders are the happiest; People who own tens of thousands of bitcoins and few know them have made millions of dollars in the past few months. It might be interesting to know that only 100 bitcoin addresses store more than 15% of all bitcoin units.

Coin Telegraph website at an essay, Reviewed the top 15 bitcoin addresses (in terms of bitcoin inventory) and gave a full explanation of the importance of paying attention to this data. So if you are a professional investor in bitcoin and digital currencies, follow this article to the end.

Rich bitcoin addresses in the spotlight

Take a look at the rich bitcoin addresses;  Anonymous Lords

Transparency is one of the most attractive features of digital currencies, and it was this unique feature that attracted many users to Bitcoin.

In Bitcoin, Blockchain technology provides all the information related to network operations to the public due to its undeniable transparency; In such a way that the details of each address, transaction, commission or other data related to multi-signature and segregated transactions can be seen by everyone.

15 rich bitcoin wallets (or to be more precise 15 rich bitcoin addresses), for various reasons, have always been in the spotlight of digital currency users. Some researchers are considering these addresses in hopes of finding traces of Bitcoin creator Satoshi Nakamoto. Others monitor data related to these addresses in order to track market whale movements and predict possible market manipulation (which mainly leads to volatile bitcoin price fluctuations).

On the other hand, even government institutions in governments closely monitor such addresses.

In this regard, companies have been formed with the aim of finding out more information about the addresses of digital currencies and their possible connections with each other. It is no secret that the US Internal Revenue Service, which is responsible for collecting taxes, has previously entered into contracts with two Chinalis companies (ChainalysisAnd Integrated Offices (Integra FECPuts tracking of digital currency transactions on its agenda.

According to reports, the US Treasury Department, led by Steven Manuchein, has recently been considering the need to legislate to oversee personal wallets. If such laws are passed, the importance of privacy for digital currency activists will be doubled.

Each address does not necessarily mean a separate entity

15 rich bitcoin addresses
Top 15 Bitcoin Addresses; Click on the image to see the original size. Source:

As you can see in the table above, the top 15 bitcoin addresses hold nearly 1.07 million bitcoins, or 5.7 percent of the digital currency’s current inventory. If we consider the value of each bitcoin at $ 40,000 (equivalent to its current price at the time of writing), the value of this bitcoin is at least $ 42.8 billion. Although this number is very significant, it is interesting to know that the total volume of daily instant bitcoin exchanges in exchange offices is over $ 5 billion.

The important thing about these addresses is that the date of the first deposit to each address (First in) does not necessarily mean that the owner of this address obtained all the bitcoins on the same date, as it is possible that the coins came from another address. Belong to the same owner as posted. Therefore, in the table above, the 11 addresses whose first deposit date is after 2018, do not necessarily belong to novices.

In addition, it should be noted that none of these 15 rich addresses are attributed to the assets of Satoshi Nakamoto. Digital currency researcher Sergio Lerner has proven that blocks extracted by the creator of bitcoin follow a unique pattern called Patoshi. This means that although Satoshi did not transfer its bitcoins to other addresses, it did not transfer them to a single address from the beginning.

Taking a closer look at the top 100 bitcoin addresses, it can be seen that these addresses account for a total of 15.7% of the total available bitcoins, which is very different from the distribution patterns in traditional markets. For example, the top 20 equity firms own a total of 19.7 percent of the company.

Another interesting thing about the top 15 Bitcoin addresses is that 5 of these addresses belong to digital exchange offices in the field of digital currencies; Therefore, Bitcoin’s focus on a limited number of addresses cannot necessarily be attributed to the whales of this digital currency.

In addition to digital currency exchanges that host large numbers of bitcoins (in a wallet with multiple addresses), some safe deposit box service providers also hold large amounts of their users’ bitcoins in a limited number of addresses. So a large inventory of these addresses does not necessarily mean assigning all of their bitcoins to a single individual or group.

The rich are reluctant to spend their bitcoins

Take a look at 15 rich bitcoin wallets

Eight of the top 15 bitcoin addresses have not spent a single satoshi (the smallest bitcoin unit). If we do not consider the 5 addresses belonging to the exchange offices, we find that only 20% of the addresses in this list have moved their coins. This shows the strong influence of hoodlers among the top bitcoin addresses.

In addition, 11 of the top 15 bitcoin addresses have been used for the first time in less than three years, for a number of reasons. Among the most important of these are advanced security measures, security changes, or variable ownership structures.

Another noteworthy point is the compatibility of these addresses with Segway solutions, which can significantly reduce the transaction fee. Only 2 of the top 15 (and only 3 of the top 200) are compatible with the Bech32 SegWit solution, indicating that users are still resisting change, despite the obvious advantages of cheap transactions. Interestingly, the Bitfinex cold exchange wallet, which ranks second in the top 15, is the only wallet that has had an outbound transaction so far.

Several mysterious addresses are still accumulating bitcoins

The third rich address seems very mysterious; Because it contains 94,506 bitcoins intact. This address had already made headlines in September 2019; When the Glasnod Institute (GlassnodeReported that 73,000 bitcoins at this address were sent to it from the origin of the Huobi exchange.

Many analysts at the time attributed the coins to Plustoken’s Panzi scheme, but the rumors were later substantiated; Because in November 2019, the Chinese police managed to seize 194,775 bitcoins from them by arresting the operators of this plan.

In addition to the fourth place in the top 15 and containing 79,957 bitcoins since March 2011, 20 of the top 300 addresses are at least 9 years old. Although no one can prove that the addresses of these addresses have been lost (for reasons such as the loss of private keys), many think so.

It should be noted that the number of intact coins in these addresses reaches 313,013 units, and among them, only one address has made an outbound transaction since its inception. Therefore, except for the address “1J1F3U7gHrCjsEsRimDJ3oYBiV24wA8FuV” belonging to the F2Pool pool, which contains 9,000 bitcoins, it is thought that the balance of other addresses has been lost forever and is dormant in the network.

Take a look at 15 rich bitcoin wallets;  Why is it important to examine this criterion?
Address inventory changes 1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ Source:

The fifth top address, whose inventory changes can be seen in the chart above, was created in February 2019, and on the first day, it was ranked 81st in terms of inventory. Since then, the address has been collecting bitcoins on a regular basis, and its incoming transactions range from one bitcoin in December 2019 to 4,100 bitcoins in June 2019. Although this address is a large collector, it also has 7 outbound transactions, ranging from 786 bitcoins to 3,000 bitcoins.

In the list of top addresses, there are exactly 100 addresses that were first used between November 30 and December 18, 2018, and each contains 8,000 or 12,000 bitcoins. Blockchain analysts generally attribute these addresses to the Coinbase Custody exchange service called Coinbase Custody. According to the Chain.Info website, these addresses, with their 881,471 bitcoin holdings, account for at least 96 percent of the CoinBase exchange cold wallet holdings.

The theory of the arrival of new whales

Most investors instinctively assume that the stability of an uptrend depends on the presence and formation of new whales. However, so far no credible evidence for this theory has been found.

Read more: How do market whales devour capital?

Apart from this, the list of the top 300 addresses has always seen a steady stream of new addresses. For example, in the last 30 days, 16 new addresses have received their first deposits and entered the club of 300 top Bitcoin addresses. Once again, a new address does not mean a new person or entity, but merely indicates that a new address has received its first bitcoin.

Sometimes even for long periods of 50 days or more, no new addresses are added to the top 300; Of course, this is not very common and rarely happens. Coincidentally, in such cases, these intervals are accompanied by the end of an uptrend, after which the market will see price corrections.

Take a look at 15 rich bitcoin wallets;  Why is it important to examine this criterion?
Bitcoin price in early 2020 in CoinBase exchange. Source: Trading View

Between November 28, 2019 and February 9, 2020, none of the top 300 Bitcoin addresses were used; It was during this period that the price of bitcoin rose by 35%. Strangely enough, in the 32 days since the end of this period, the price of Bitcoin has fallen by 52%.

Take a look at 15 rich bitcoin wallets;  Why is it important to examine this criterion?
Bitcoin price in early 2017 in CoinBase exchange. Source: Trading View

The same thing happened earlier in the period from October 18 to December 11, 2017. During this period, the price of Bitcoin in a bullish rally experienced a 193 percent increase; While none of the top 300 addresses were new at the time. Similarly, in the next 36 days after this event, the price of Bitcoin fell by 34%.

Earlier, between April 20 and July 7, 2017, while none of the top 300 addresses had just been created, Bitcoin experienced a 111 percent increase, again falling 24 percent in the short 9-day period. He passed.

Therefore, based on historical data, it can be concluded that the new whale theory can be logical. Upward market rallies usually occur over long periods of time in which new addresses are less likely to make it to the top 300; This shows that institutional investors who have already established themselves in the market are accumulating inventory during these periods. New whales, on the other hand, are likely to be motivated by the acquisition of FOMO, and their presence is associated with the formation of relative price peaks.

Therefore, monitoring of top addresses and analyzing in-chain data can be a good way to estimate the time of possible market corrections.


Usually, whenever large deposits enter exchange offices, it can be concluded that a sell order is forming and traders interpret this event as a downward signal. Analysts compare these movements to bitcoin price fluctuations to find a link between market fluctuations and massive whale transfers.

Analysts expect the price to correct as miners begin to move as the market is bullish and miners decline in sales. Therefore, taking into account these factors, 6,300 bitcoins should enter the market every week to avoid the destructive price effects.

Now that institutional investors have entered the bitcoin market, curious investors are curious to see if this will lead to the uptake of newly extracted bitcoins in 2021 as well as in 2020.

Although 2021 seems to be a very productive year for digital currencies, strict government regulation has always caused sudden market declines, and this will not be unexpected in 2021. So it will still be important for professional digital currency investors to follow the top 15 Bitcoin addresses and market whale movements.


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