Cryptocurrencies, particularly Bitcoin (BTC) has been relatively demonstrating good strength since the start of the year, probably due to the upcoming Halving event and several predictions by prominent analysts for 2020, however, there has been a change of hands in the supply of Bitcoin, including Tether (USDT).

Following the weekly "State of the Network'<a href="https://coinmetrics.substack.com/p/coin-metrics-state-of-the-network-2d3"> report</a> by CoinMetrics, the world's most valuable cryptocurrency, Bitcoin's supply was previously dominated by a few individuals; however, the supply has been gradually distributed to numerous addresses.

As of February 2011, the percentage of Bitcoin supply dominated by these large addresses (those with a balance of at least one-thousandth of the total BTC supply) raised by 33%. However, the percentage has dropped 3x to 11% in February 2020.

<img class="aligncenter wp-image-159221 size-full" src="https://www.cryptoknowmics.com/news/wp-content/uploads/2020/02/https___bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com_public_images_43ed3e32-e37f-49d6-8ffa-4f5f670111c9_700x450.png" alt="" width="700" />
<h2>Bitcoin Supply Dominated by Smaller Addresses</h2>
On the other hand, the percentage of Bitcoin supply held by smaller addresses (those with balances of 1/10M or less) has continuously been on the rise over the past nine years. This trend probably indicates an increase in Bitcoin adoption among individuals and investors.

Moreover, the development lines up with the data from Glassnode, which indicated that the number of addresses with at least 0.01 BTC has been increasing since Q2 of 2018.
<h2>Tether (USDT) Notes Increased Distribution</h2>
The US dollar-backed crypto,<a href="https://www.cryptoknowmics.com/crypto/?p=158425"> Tether</a>, saw increased distribution with its tokens, Omni (USDT-Omni), and Ethereum (USDT-ETH), except for the Tron (USDT-TRX) version. These versions of Tether launched 100% concentrated.

However, the Omni and Ethereum version of USDT has seen significant distribution over time. According to CoinMetrics, it probably means they are used as a medium of exchange. 

<img class="aligncenter wp-image-159222 size-full" src="https://www.cryptoknowmics.com/news/wp-content/uploads/2020/02/https___bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com_public_images_7cafb490-d7f4-46ae-a840-748b0f780618_700x450.png" alt="" width="700" />

<img class="aligncenter wp-image-159223 size-full" src="https://www.cryptoknowmics.com/news/wp-content/uploads/2020/02/https___bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com_public_images_c33d39d5-3947-442f-9740-0089b97bed81_700x450.png" alt="" width="700" />

The utility of these token simply explains why the supply is being changed from addresses holding large balances to others addresses with small balances. This also points out that the Tron version of Tether, which has remained almost 100% concentrated, is not actively used as a medium of exchange.

Meanwhile, it is worth noting that Tether was recently introduced on Tron (i.e., in May last year), so it is still relatively a new token.

Bitcoin Supply Dominated by Large Addresses Drops to 11%

As of February 2011, the percentage of Bitcoin supply dominated by these large addresses reached 33%. However, it has dropped by 3x to 11% in February 2020.

Ibiam Wayas is an optimistic crypto news reporter who also enjoys tech writing. He is an introvert who spends much of his time on the internet studying facts that will help him excel in the digital/cryptocurrency space.

Bitcoin Supply Dominated by Large Addresses Drops to 11%

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