New Major Bitcoin Whales Emerge

Alex Dovbnya

Additional 16 wallets have recently entered category of those possessing between 100 to 1,000 BTC

Recent data from Santiment shows a notable surge in Bitcoin’s whale numbers. A significant 16 wallets have now joined the ranks of those holding between 100 to 1,000 Bitcoins (BTC). This growth appears to be due to smaller wallet holders “graduating” to the next tier, bolstering the case for a bullish Bitcoin outlook.

A clear divergence has been observed between Bitcoin and Ethereum whale behaviors. Ethereum whales, defined as holders of 1,000 ETH or more, are currently in a pronounced downtrend. Over the past year alone, a whopping 12 million ETH has been offloaded by these large stakeholders. This figure jumps to 20 million ETH since 2020, suggesting a significant shift in Ethereum whale sentiment. In stark contrast, Bitcoin whales, those with 1,000 BTC or more, display a trend that ranges from aggregate growth to stability.

This pattern further accentuates Ethereum’s ongoing sell pressure, which stands in stark contrast to Bitcoin’s current trajectory.

Shark and whale wallets

From February 2022, the cryptocurrency landscape has witnessed a significant uptick in the number of shark and whale wallets accumulating at least 10 Bitcoin. Over the span of the last 20 months, this trend of accumulating larger wallets has surged, resulting in an additional 11,806 addresses crossing this notable threshold. This represents an impressive 8.12% total increase in such wallet holders, showcasing robust confidence among larger stakeholders in the digital asset’s potential.

About the author

Alex Dovbnya

Source link