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- Santiment, a crypto market data aggregator, revealed that wallets containing between 100 and 10,000 BTC were accumulating.
- Their current total is $366.89 billion, accounting for over half of their total so far. We’ve seen how ETPs have recently grabbed control of Bitcoin, reaching a stake of over 7%.
- While many whales and miners appear to be storing their coins in the hopes of better pricing, transaction monitor Whale Alert has logged two 5,000 BTC transactions bound for Coinbase since June 14, indicating that at least some large investors are anxious to trade their Bitcoin.
Over the last 25 days, “millionaire” addresses have accumulated roughly 90,000 Bitcoin worth $367 billion, indicating that Bitcoin whales are stocking up. The current buying binge has pushed the number of Bitcoin held by millionaire addresses to a seven-week high, with the addresses representing more than 9.11 million BTC, down just a few percent from their mid-April high. The buildup was discovered by crypto market data aggregator Santiment, which discovered that wallets holding between 100 and 10,000 BTC — dubbed “millionaire tier” addresses by Santiment — had become the largest category of Bitcoin holders, accounting for 48.7% of the total supply.
Data gathering companies have a lot to say about BTC
In contrast to whales, the share of supply represented by addresses holding less than one Bitcoin has risen since December 2017, accounting for around 5% of Bitcoin’s market worth, according to Glass node. In addition, on-chain analytics service Glassnode said on June 16 that weekly Bitcoin outflows from miner addresses had dropped to a five-month low of around $1.7 million, indicating that miners are collecting BTC. While many whales and miners appear to be hoarding their coins in the hopes of better prices, transaction monitor Whale Alert has recorded two transactions of around 5,000 BTC each bound for Coinbase since June 14, indicating that at least some vast investors are eager to trade their Bitcoin.
BTC setting goals for itself
In a recent Twitter thread released by Santiment, It says how BTC has addressed how the storing of Bitcoin lying between 100 to 10000 has gone up to as high as 90000 within a 25 days span. They are setting milestones, every week they are setting new goals for themselves, a 9.11 million high accumulation of bitcoin has been recorded in just a week. Their present total is $366.89 billion which is as high as 48% of their entire total so far. We have witnessed how recently, ETPs have gained control over Bitcoin up to a share of over 7 percent. The evolution of BTC has attracted the response of the little guy. They have mentioned how BTC has evolved to be more of an asset to the masses. With the continuous growth of crypto in general and bitcoin in particular, there is no stop, people have been actively participating, agencies have invested much more in it than in any other stocks or assets. It has positively converted to a well developed asset rather than just a platform.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
