In less than seven months of 2024, Bitcoin whales have acquired a total of 1.45 million BTC. The founder and CEO of the analytical platform CryptoQuant, Ki Young Ju, reported the record accumulation of the first cryptocurrency.
#Bitcoin OTC markets are overwhelming CEX markets.
Whale wallets (>1K BTC), including spot ETFs and custodial wallets, added 1.45M BTC this year, totaling 1.8M BTC.
In 2021, about 70K BTC flowed in over the year; now, it’s 100K BTC “weekly.” I repeat. 100K BTC weekly. pic.twitter.com/YJPJpMtMPL
— Ki Young Ju (@ki_young_ju) July 17, 2024
The expert classifies Bitcoin whales as wallet owners holding more than 1,000 BTC on their balances. This category includes both custodial wallets and spot Bitcoin ETF issuer addresses.
At the time of publication, 1.45 million BTC are valued at more than $94 billion. Thanks to active purchases, the total balance of bitcoin whales has grown to 1.8 million BTC, Yang Ju said.
The expert compared the current market situation with 2021. Then the total balance of such wallets increased by 70,000 BTC in 12 months. In 2024, whales accumulate about 100,000 BTC every week, noted the CEO of CryptoQuant.
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Source: Cryptocurrency
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