Big players are back in action for Bitcoin. Moreover, this time the number is not that small. There are billion-dollar additions. This time they added over a billion dollars of BTC to their assets. Let’s look at the details together.
Bitcoin’s whales are making big moves
Latest data has revealed an important development in the Bitcoin (BTC) world. There is news from deep-pocketed Bitcoin holders, often referred to as “whales.” Accordingly, he has accumulated a significant amount of the leading cryptocurrency in the last two weeks.
According to information from market intelligence platform IntoTheBlock, there are moves from large Bitcoin owners. Accordingly, they have purchased significant amounts of the largest digital asset by market cap since mid-August. These are individuals or organizations that hold 0.1% or more of the total Bitcoin supply. They also added a staggering $1.5 billion worth of BTC to their holdings in just two weeks.
Increase in Bitcoin addresses
Blockchain tracking firm Glassnode also reported a notable trend in Bitcoin ownership. The total number of investors holding 10 BTC or more reached 157,324. Accordingly, it reached the highest level in the last three years. This increase in addresses with significant Bitcoin holdings indicates increased interest and investment in the cryptocurrency.
At the time of writing, Bitcoin is trading at $25,889 with minor fluctuations throughout the day. This stability comes amid significant holdings by major holders and growing interest from investors with significant BTC holdings.
Stablecoins signal market activity
Analytics firm Santiment closely tracks the total market cap of the top six stablecoins. Their data shows that the recent increase in the market values of these stablecoins could be a harbinger of a market reversal. The market cap of the six largest stablecoins in the cryptocurrency world has collectively decreased by 25.9% over the past 18 months. But there is growth for the first time since FTX’s collapse last November. Since August 22, their total market cap has increased by $663.2 million.
As Kriptokoin.com, the crypto world is witnessing interesting movements as whales accumulate significant Bitcoin assets and the number of large Bitcoin addresses reaches the highest levels in recent years. Bitcoin’s price remains relatively stable. Additionally, the increase in market values of stablecoins indicates that the cryptocurrency market may be on the verge of significant changes. Both investors and enthusiasts are watching these developments closely. On the other hand, it predicts potential changes in the crypto space.
21102
