The blockchain of Bitcoin allows for a detailed analysis of the decentralized currency, including visualizing the rough structure of the BTC holder ecosystem. While this ecosystem was once dominated by whales, this is now becoming less and less the case.

Criticism of Bitcoin

The main criticism of Bitcoin is that the digital currency will not be fairly distributed. People often argue that if Bitcoin becomes the world reserve currency soon, a very small group of people will hold all the power.

In a way, this is understandable and makes sense for outsiders to see it this way. It is still difficult to explain that Bitcoin is actually the fairest way to launch a new monetary system. Everyone had a chance to participate from the very beginning.

What we are seeing now is that "people" are taking an increasingly large share of the entire Bitcoin. While it was still an ecosystem dominated by whales before, we are now seeing more and more small holders who own relatively small amounts of BTC.

Bitcoin shrimps and crabs

In particular, the so-called shrimps (<1 bitcoin) and crabs (1-10 bitcoin) are currently consuming large amounts of bitcoins. According to Glassnode, shrimps are buying over 100 percent of the annual production of the primary cryptocurrency. In the case of crabs, this is 119 percent

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So even if miners sell 100 percent of their production, these two cohorts are still buying more bitcoins. Of course, they are buying this Bitcoin from the market.

As a result, fewer bitcoins are available for sale, and the relative scarcity of the digital currency is increasing. The more bitcoins shrimps and crabs buy, the harder it is to acquire it. Ultimately, this could only have a positive impact on the price.