Bitcoin Accumulation Rises at High Pace: Glassnode Data

As Bitcoin has been rising from $40,000 and touching $44,250, investors are accumulating as much BTC as fast as they can

Contents

Data provided by Glassnode analytics aggregator shows that since late February this year, accumulation of the flagship cryptocurrency has been going parabolic.

Track live crypto price of 10000+ coins!


The chart was shared by head of investment fund Lex Moskovski on his Twitter page.

Bitcoin rises to $44,250, adding almost 9%

After the leading digital currency went up 7.30% on Monday, printing two big green hourly candles and rising over $40,000, BTC has gained another 8.50%, touching a high of $44,232.

Since then, it has rolled back a little and has been trading in the $43,390 range.

BTCrises44k_0087yd
Image via TradingView

On Monday, Feb. 28, Glassnode also announced that the majority of Bitcoin address cohorts have been accumulating the safe haven crypto asset en masse.

Related:  Scammers Simulate Airdrop to Lure Victims

Smaller investors have been most aggressive in acquiring Bitcoin.

Biggest Bitcoin ETF in Canada grabs more BTC

As covered by U.Today earlier, the largest crypto ETF in Canada, Purpose Bitcoin ETF, bought more of the flagship crypto before the current rise.

The fund has increased its BTC holdings by 31%, adding 7,700 Bitcoin since the end of the fall 2021. At the moment, Purpose Bitcoin ETF owns 32,329 BTC. This amount of the king crypto is worth $1,307,658 at the time of writing.

As the crypto market led by Bitcoin and Ethereum began to recover, old-school trader John Bollinger has posted a bullish tweet, saying that he is positive about the further rise of BTC and ETH.


Download MAXBIT Android App, Your best source of all crypto news!

Google Play

Source link

Share this article: