RATE Group | Bitcoin Whale Addresses Hit Highest Number Since August 2019
87105
post-template-default,single,single-post,postid-87105,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin Whale Addresses Hit Highest Number Since August 2019

30 Apr Bitcoin Whale Addresses Hit Highest Number Since August 2019

Posted at 20:51h in Bitcoin News by

Large crypto investors, popularly known as “whales,” seem to be accumulating bitcoin amid the ongoing price rally. 

The seven-day moving average of the number of addresses holding 10,000 bitcoins or more rose to 111 on Wednesday, the highest level since Aug. 2, 2019, according to blockchain intelligence firm Glassnode. That number has risen by more than 11% since early March. 

“The increase in the number of BTC addresses with more than 10,000 BTC is likely the result of long-term holders coming back online to expand their holdings,” said Matthew Dibb, co-founder of Stack, a provider of cryptocurrency trackers and index funds. 

glassnode-studio_bitcoin-addresses-with-balance-%e2%89%a5-10-k-7-d-moving-average-1
Bitcoin Addresses with balances of BTC 10,000 or more
Source: Glassnode.com

Increased interest from long-term holders and large investors could be associated with the bullish narrative surrounding the macro factors and the upcoming reward halving. 

“Some of these addresses may belong to high-net-worth individuals or groups, who are diversifying into…

Source link

Tags:
, , , , , , ,