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NewsBTC 2021-10-18 17:00:53

Number Of Bitcoin Whales On The Rise As BTC Chases New All-Time High

Bitcoin whales are not slowing down on their accumulation tour despite rising prices. Bitcoin has now hit $62K for the first time in five months and the market has rejoiced over this milestone. With more growth expected in the coming weeks, investors are making sure that they do not miss out on what the digital asset has to offer in terms of value. BTC is now the de facto internet store of value, so investors are FOMO-ing into the asset. This has translated to a higher price for BTC. However, the majority holding is still skewed in favor of the whales. These addresses which hold 100 to 1,000 BTC on their balances are increasing the share of the total circulating supply which they command, and data shows that there has been an uptick in the number of whale addresses holding 100 to 1,000 BTC. Related Reading | Bitcoin Breaks $60,000 Ahead Of SEC ETF Approvals Addresses Holding 100 To 1,000 BTC Jumps 1.9% A recent report from Santiment showed that the number of addresses holding between 100 and 1,000 BTC on their balances had grown in the past five weeks. A reported 254 new addresses had increased their holdings to join this category of whales, who now hold about 21.3% of the total bitcoin circulating supply. BTC price trading north of $61K | Source: BTCUSD on TradingView.com The 254 new addresses represent a 1.9% increase in the number of these whale holders, signaling more accumulation sentiment among bitcoin investor...

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