AA NewsBitcoinBitcoin (BTC) PriceBitcoin WhalesBTCEURBTCGBPbtcusdBTCUSDTCrypto NewsSocial

Bullish? Bitcoin Whales With More Than 10,000 BTC at an All-Time Low

Bitcoin’s distribution has become substantially less concentrated as the number of whales holding 10,000 or more coins has reached a new all-time low of less than 100 such addresses.
At the same time, the number of transactions on the BTC network and exchange deposits continue to decrease to monthly lows.
Bitcoin 10K+ Whales to ATL
The so-called BTC “humpback” whales are massive wallets containing 10,000 or more coins. From a USD perspective, this amount would represent holdings worth at least $550 million as of today’s prices.
According to data from the monitoring resource Glassnode, such addresses have plummeted in numbers since the start of this year. At the time, there were 115 wallets holding so many bitcoins but have dropped to just over 90 – a new all-time low.
This could be attributed to BTC’s skyrocketing price in the past several months as the cryptocurrency expanded its value by more than five-fold since October. As such, whales could have gone for profit taking by disposing of some of their holdings.
Bitcoin Whales 10,000+ Coins. Source: GlassnodeCryptoPotato reported that such sizeable wallets had sold off at least 140,000 bitcoins (worth roughly seven billion) in February, approximately when BTC peaked at $58,400.
Over a longer horizon, the number of humpback whales has decreased by about 30% since 2019. This suggests that the primary cryptocurrency’s distribution has become significantly less concentrated compared to just a few years ago.
BTC on Exchanges and Daily Transactions Decrease Too
While the large bitcoin addresses have declined in recent months, so have the exchange-related activities. …
Story continues on Crypto Potato

Related posts
NewsNews 1RippleSocialTrading ViewXRP

SEC accuses Ripple of diverting court's attention with 'legally improper' defenses

The United States Securities and Exchange Commission (SEC) is in the news today after it hit back at Ripple again with a motion to strike the firm’s defense relating to the SEC’s “Lack of Due ProcThe post SEC accuses Ripple…
AA NewsCrypto NewsRippleSECSocialXRPBTCXRPUSD

Ripple Has Settled Its Lawsuit Against YouTube

Nearly a year after filing a lawsuit against YouTube for failing to prevent XRP giveaway scams, Ripple Labs has settled the issue without disclosing any further details. In the other ongoing Ripple-related lawsuit, the SEC has asked Judge Analisa Torres…
AltcoinsAnalysisHideCryptopanicNewsNews 1SocialTrading View

EOS, IOTA, Dash Price Analysis: 10 March

EOS was rejected above its $4.04-resistance and more buying presence would be needed to regain the said level from the market’s bears. IOTA might need to negotiate some short-term selling pressure andThe post EOS, IOTA, Dash Story continues on AMB…