Experts from the analytical company Santiment say that inflation and geopolitical tensions have led to an increase in the number of Bitcoin addresses held by large investors.
According to Santiment analysts, the number of Bitcoin addresses holding between 1,000 and 10,000 BTC has grown per month by 8.3%. 2203 addresses hold at least 1,000 BTC, the highest in 12 months.
The level from 100 to 1000 BTC is called by analysts a “harbinger of price movement”. During the previous market corrections in 2017 and 2020, the so-called “whales” also accumulated bitcoins in large quantities. Last June, large digital asset holders owned 48.7% of all bitcoin mined, according to Santiment.
Long-term investors increase their cryptocurrency portfolio not only with the help of bitcoin. According to the latest data from Santiment, 336 Ripple addresses hold at least 10 million XRP coins. The total number of large transactions with cryptocurrencies has also been growing recently.
Santiment informsthat the ADA rate jumped by 10% in a month, exceeding $1. Over the past week, the ADA cryptocurrency has grown in price by 26%. AAVE has experienced an impressive 48% gain in nine days and is currently trading at around $174. Over the past 24 hours, seven transactions worth more than $1 million have been made, and this can be considered an early sign of potential profit taking.
Active and “cryptocurrency whales” from the underworld. According to Chainalysis, as of the end of 2021, their addresses held crypto assets worth $11 billion, while in 2020 this amount was $3 billion.
Source: Bits
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
