Monday , January 17 2022

Bitcoin whales are multiplying at a rapid pace, shattering the all-time high as large buyers bet on BTC



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Santiment, a cryptographic analysis company, reveals that deep-pocket investors are taking BTC quickly as the number of Bitcoin whales reaches an all-time high.

The firm he says that the number of whales with a minimum of 1,000 BTC broke records earlier this week.

“The number of Bitcoin whale addresses with at least 1,000 BTC has reached an all-time high of 2,323 with the market closing on Tuesday (January 5, 2021).”

According to the chain reporting platform, the growing number of Bitcoin whales is a positive signal for the bullish BTC market.

“There may not be a more notable bullish metric than one that targets growing holders with $ 33.7 million online.”

Source: Sentiment / Twitter

Data from the U.S.-based cryptocurrency exchange Kraken corroborate Santiment’s findings. Kraken says the growing number of Bitcoin whales, as well as the movement of the flagship cryptocurrency asset to other storage options, indicate that the flagship cryptocurrency has even more upside potential.

“The accumulation and outflow of additional whales from exchanges amid BTC’s parabolic rise indicates that well-capitalized market participants believe BTC has a positive short-term increase despite the move to unknown waters.”

Kraken reveals that the number of BTCs in whale addresses reached an all-time high of 11.46 million in 2020. The cryptocurrency exchange adds that the number of addresses containing more than 100 Bitcoin exceeded 16,300, the level highest since March 2020.

Kraken also reveals that whales that own more than 100 Bitcoin accumulated 47,500 BTC in December while the star cryptocurrency sparked a massive concentration.

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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making high risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are your responsibility and that any loss you may incur is your responsibility. The Daily Hodl does not recommend the purchase or sale of any digital currency or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.

Featured image: Shutterstock / Tory Kallman



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