Bitcoin whales (BTC) are hoarding, and the addresses of “millionaires” have collected around 90,000 bitcoins in the last 25 days, worth 367 billion dollars.
The delay was determined by cryptocurrency market data aggregator Santiment, which determined that wallets containing between 100 and 10,000 BTC – which the company described as “millionaire level” addresses – are currently the largest segment of Bitcoin processors and currently account for 48.7% of Bitcoin. deliver. …
The recent increase in purchases has pushed millionaire addresses to a seven-week high for the number of bitcoins held, with addresses of over 9.11 million BTC – just 2% below the mid-April high.
Miners also appear to be sourcing bitcoins, with network analytics provider Glassnode determined that weekly bitcoin power from mining addresses fell to a five-month low of nearly $ 1.7 million on Wednesday.
Related: Listed companies, trust and ETPS now control almost 7% of Bitcoin Supply
Looking at the other end of the whale scale, Glassnode notes that the share of offers represented by addresses with less than 1 bitcoin has doubled since December 2017, accounting for approximately 5% of the bitcoin market value.
While many whales and miners appear to be hoarding their coins in anticipation of price increases, the Whale Alert transaction monitor found two transfers of nearly 5,000 BTC, or $ 200 million each, calculated on Coinbase since Monday, indicating that some investors least of all looking forward to trading with bitcoins.