Third Biggest Whale Adds 1,416 Bitcoins In Last 2 Days; Will This Pump BTC?

Bitcoin BTC

Bitcoin (BTC) prices have slid by another 9% over the past 7 days. However, the whales have seized this dip opportunity to add more BTC to their wallets.

Whale holds 132K BTCs

According to the data, the third largest Bitcoin whale has bought around 1,416 BTCs in the last two days. Yesterday, the whale wallet added $21.64 million worth of 815 BTC. Meanwhile, the whale purchased another 601 Bitcoin (worth approx $12.6 million) in just one transaction.

As per the Tokenview, the wallet’s Bitcoin holding has now reached 132,003.54. The total holding is worth around $2.568 billion.

The world’s largest cryptocurrency has been on a downtrend since the beginning of this year. BTC prices are down by 60% from its year to date (YTD) value. Bitcoin is trading at an average price of $19,438, at the press time. However, its 24 hour trading volume has jumped by 33% to stand at $32.8 billion.

Many other BTC maximalists have jumped in to increase their holdings. El Salvador bought about 80 Bitcoin at the price of $19,000 each. The total valuation of the transaction stood at $152k.

Meanwhile, Microstrategy added another 480 BTC during this price dip. As per the report, the Bitcoin accumulation was done between the time period from May 3 and June 28. The total purchase was valued at around $10 million in cash. The average price of BTC purchases has been disclosed as $20,817.

Small whales hold 1.12 mln Bitcoin

According to Glassnode, small Bitcoin holders have been aggressively adding the token since March 2020. It mentioned that “Shrimps” are adding around 36.75k BTC/month. It is 0.2% of the total circulation supply but around 1.36x of monthly issuance. As of now, Shrimps are holding 1.12 million Bitcoins cumulatively.

The whales are also adding Bitcoin to their wallets aggressively. They are accumulating around 140K BTC/month and that too directly from the exchanges. However, the whales’ buying strategy often aligns with the BTC market structure. As of now, the biggest of the holders are holding 8.69 million BTC. It is around 45.6% of the total supply.

The post Third Biggest Whale Adds 1,416 Bitcoins In Last 2 Days; Will This Pump BTC? appeared first on CoinGape.


Share on facebook
Share on twitter
Share on pinterest
Share on linkedin

Follow Us

Most Popular

Get The Latest Updates

Subscribe To Our Weekly Newsletter

No spam, notifications only about new products, updates.
On Key

Related Posts

Bitcoin Poised For Recovery, Relief Summer still In Play?

Bitcoin has been able to make a resurgence in recent weeks. The 25,000 USD barrier was recaptured by Bitcoin prices just two days ago, marking the first time since June 13th. Bitcoin Poised For New Rally In June, Bitcoin had its largest monthly decline since 2011, falling over 37.3% to a final value of $19,925.

Expert Reveals How “Fake Supply” Is Killing Your Bitcoin Gains

Caitlin Long, the founder and CEO of Custodia Bank, reveals that the BTC price should have hit somewhere close to six figures in the previous cycle. In an interview with Robert Breedlove’s “What Is Money” podcast, Long reveals that “paper bitcoin” has created a fake supply of BTC. The 21 Million Trap Bitcoin’s limited supply

Selling Bitcoin In Fear Of Mt. Gox dump? Here’s What Expert Suggests

Mt. Gox, a Japan based cryptocurrency exchange lost around 850,000 Bitcoins in an alleged hack back in 2014. It has been reported that the creditors will begin to receive some of the stolen assets. However, this event has raised vital concerns regarding the price stability of Bitcoin. Creditor to choose Bitcoin’s fate? As per reports,

Soneva’s Luxury Resorts Now Accept Crypto Payments

Luxury resort chain Soneva has reportedly begun accepting cryptocurrency payments at its resorts in the Maldives and Thailand. “Accepting cryptocurrencies as a payment method is another example of enabling our international guests to easily make payments from anywhere in the world.” Soneva Accepts Cryptocurrency Payments Luxury resort chain Soneva has reportedly begun accepting payments in