RATE Group | Bitcoin whales aren’t responsible for volatility, research firm finds
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Bitcoin whales aren’t responsible for volatility, research firm finds

10 Oct Bitcoin whales aren’t responsible for volatility, research firm finds

Posted at 20:38h in Bitcoin News by

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The bitcoin whales are back. At least, that’s the conventional narrative that takes hold when the world’s largest cryptocurrency exhibits significant price swings, often over a short period.

However, new data from Chainalysis, a blockchain research firm that specializes in detecting fraud and money laundering, suggest this isn’t to be the case. In fact, it is quite the opposite.

Bitcoin whales, individuals that own a significant number of bitcoins, are responsible for cooling market volatility, not the source of it like many claim. “Intensive analysis of bitcoin’s 32 largest wallets, however,…

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