Daily News | 204 People Worldwide Hold Crypto Assets Exceeding $100M, GBTC Becomes the World's 2nd Largest BTC Holding Entity, Whales Purchased 260K ETHs In the Past 24H

2023-09-07, 03:53

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## Crypto Daily Digest: 204 people worldwide hold crypto assets exceeding $100 million, with 22 people exceeding $1 billion; GBTC Becomes the World's Second Largest Bitcoin Holding Entity
First, let's take a look at the latest industry reports.

According to Cointelgraph, Henley & Partners, a global residency and citizenship consulting firm, released the "Cryptocurrency Wealth Report." The report shows that there are approximately 88,200 millionaires worldwide who hold cryptocurrency, of which 40,500 hold <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a>. There are 204 individuals with assets exceeding 100 million.

Specifically, out of 182 investors holding cryptocurrencies worth over $100 million, 78 are Bitcoin investors. Among the 22 investors holding cryptocurrencies worth over $1 billion, 6 of them accumulated their wealth through trading Bitcoin.

In addition, as of July 2023, there are approximately 56.1 million millionaires worldwide, with less than 0.2% owning a large amount of cryptocurrency. The report did not explicitly mention the names of cryptocurrency millionaires and billionaires.

Henley & Partners CEO JuergSteffen stated that the company has received a large number of crypto-related inquiries from millionaires over the past six months, as part of their efforts to "protect themselves from the potential ban on trading or using cryptocurrencies in their country in the future" and "mitigate the risk of aggressive fiscal policies taxing digital assets."

According to Arkham Intelligence, a crypto data tracking platform, over 1,750 wallet addresses related to assets held by Grayscale Bitcoin Trust have been identified. Each wallet holds less than 1,000 BTC ($25.7 million) of Bitcoin, with a total value of approximately $16.1 billion, making GBTC the second largest Bitcoin-holding entity in the world.

In terms of data, the latest data from The Block shows that the valuation of Layer 1 blockchain decreased month by month in August, with <a href="/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a>'s market cap alone falling by $25.4 billion between August 1st and September, resulting in a loss of 11.4%. In August, the total value locked (TVL) by the DeFi protocol in L1 also almost universally decreased, with Ethereum and Tron ecosystems decreasing by $1.2 billion and $562 million, respectively.

The trading volume of DEX is consistent with user activity on the L1 network, reaching a new low since December 2022, approximately $56.8 billion. Due to the $41 million decrease in fees paid by Ethereum users using the network in August compared to July, the total trading cost of the entire L1 has significantly decreased. The month-on-month declines of <a href="/price/bnb-bnb" target="_blank" class="blog_inner_link">BNB</a> Chain and <a href="/price/avalanche-avax" target="_blank" class="blog_inner_link">Avalanche</a> were 28% and 41%, respectively.

Meanwhile, using the 7-day moving average, the number of daily active addresses on <a href="/price/solana-sol" target="_blank" class="blog_inner_link">Solana</a> plummeted to around 204,000 on August 31, the lowest since the end of 2020. After the bankruptcy of the crypto exchange FTX in November last year and the US Securities and Exchange Commission describing Solana's native SOL tokens as securities, the decline in Solana's active users intensified.

According to CoinGecko's data, the price of SOL is currently around $20, which has fallen by about 7% in the past 7 days. According to DefiLlama's data, Solana currently ranks 10th in total lock-in value, with a total lock-in value of approximately $311 million.

According to Ali Charts monitoring, the blue whale population has purchased approximately 260,000 ETHs worth nearly $425 million in the past 24 hours. The report emphasizes that the current trading volume and liquidity in the market are deficient. This low liquidity environment makes the crypto market vulnerable to significant price fluctuations even if the trading volume is not high.
## Today’s Main Token Trends
### BTC
![](https://gimg2.gateimg.com/image/article/1694064961BTC.png)
This morning, the market once again witnessed a double-bottom reversal, followed by a subsequent bounce from the lows. In the short term, it maintains support at $25,606, with the price oscillating within a range and lingering at lower levels. Traders can consider buying on highs and selling on lows to gradually build positions and capture profits. The medium-term trend still indicates a bearish structure.

### TORN
![](https://gimg2.gateimg.com/image/article/1694064980TORN.png)
TORN, a leading project in the DeFi space, has experienced a significant drop from its all-time high of $948.8 to the current price of $2.91, marking a maximum decline of 99.69%. The daily chart shows signs of a bottom formation at the $2.5060 support level, and there was an influx of funds into the secondary market yesterday. In the short term, it may be advantageous to establish positions on dips, with a potential breakout above the $3.30 resistance level targeting $4.60 and $5.79.

### WLD
![](https://gimg2.gateimg.com/image/article/1694065001WLD.png)
As mentioned in yesterday's live broadcast, WLD's weekly chart has been continuously declining for six weeks, with this week potentially marking a turning point. Short-term support is found at the $1.020 level, and the four-hour chart suggests developing a head and shoulders pattern. It is crucial to monitor whether there will be a retest of $1.275 and a sustained uptrend, with short-term upward targets at $1.383 and $1.493.
## Macro: US stocks fell across the board, highlighting inflation expectations
The US dollar index rose 0.2%, about to hit the high point of 105.83 set during the banking crisis in March. The yield of benchmark 10-year treasury bond rose from 4.267% to 4.289%, and the yield of two-year treasury bond, which are more sensitive to the Fed's policy expectations, climbed to 5.022%.

The US stock market has fallen across the board, from real estate companies to manufacturers and banks. The Dow Jones Industrial Average fell 0.6%, the S&P 500 Index fell 0.7%, and the technology-focused Nasdaq Index fell 1.1%.

The ISM service industry index rose to 54.5 in August from 52.7 the previous month (expected to be 52.5), a data that was originally expected to decline higher than all economists' expectations, naturally causing a strong reaction in the market. This is a new sign that the US economy may be accelerating growth, exacerbating concerns about inflation.

Two Federal Reserve officials have made no <a href="/price/secret-scrt" target="_blank" class="blog_inner_link">Secret</a> of their statement that they will continue to raise interest rates this year.

Former St. Louis Fed Chairman James Bullard stated that when updating forecasts later this month, the plan to raise interest rates again within the year should not be abandoned.

Boston Fed Chairman Susan M. Collins stated that patience is needed when evaluating economic data to determine the next steps, and trends suggest that further interest rate hikes may still be needed.

After last night, the market's probability of the Federal Reserve raising interest rates by 25 basis points in November has increased to around 60%, and the expected cumulative rate cut for 2024 has decreased by about 10 basis points. The expected rate cut time has changed from June to July.

<div class="blog-details-info">
<div>Author:**Byron B.**, Gate.io Researcher
<div>Translator:Joy Z.
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

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