It seems that the whales that are accumulating Bitcoin are exploding holdings-wise. Check out the latest reports below.
At the moment of writing this article, the crypto market is trying its best to recover following recent losses. Now, BTC is trading in the green and the king coin is priced at $20.028.
Bitcoin whales are accumulating BTC
It’s been just revealed that the richest non-exchange Bitcoin (BTC) whale continues to gobble up BTC as the largest crypto by market cap hovers near $20,000.
According to data from BitInfoCharts, the whale address has added 1,480 BTC since June 30th, bringing its total to about 132,883 Bitcoin, worth nearly $2.7 billion, as the online publication the Daily Hodl notes.
The wallet currently holds its largest balance of Bitcoin ever, as per the same online publication.
The data reveals that the only two addresses holding more BTC belong to the Binance cold wallet and the Bitfinex cold wallet.
“Bitcoin has tracked sideways since June 30th and is trading for $20,269 at the time of writing. The top-ranked crypto asset by market cap is up more than 4% in the past 24 hours,” the Daily Hodl notes.
Crypto analytics firm Santiment made sure to note the fact that big wallets are on the rise as the number of addresses holding more than 10 BTC has reached its highest level since February 2021.
“The amount of Bitcoin addresses holding 10+ BTC has ramped up, particularly since the mid-June drop. In the past 30 days, these addresses have increased by 1.12%. There are 149,200 addresses holding 10 or more BTC, the most held since February 2021.”
Other than this, the crypto market is trying to recover following the latest price losses. More than that, the other day, we revealed that an important digital assets manager says institutional investors are becoming more optimistic about Ethereum (ETH) after a long streak of capital outflows. Check out our previous article in order to learn more details.