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Bitcoin Whales With 1000+ BTC Reaches ATH | The DeChained
Bitcoin Whales With 1000+ BTC Reaches ATH | The DeChained

Bitcoin Whales With 1000+ BTC Reaches ATH

The amount of Bitcoin addresses with at least 1000 BTC has emerged since the New Year. Crypto insights channel revealed that 164 fresh Whales have surged in the month of January alone. The channel started in a  tweet : “#Bitcoin addresses holding over 1000 $BTC hit a new all-time high. This year alone 164 addresses got added, currently worth $6 billion.”

Blockchain Anonymity

Cryptometrics platform Glassnode reported that almost 2500 whales have at least 1000 bitcoin. However, it is hard to say whether the users are different due to the anonymity of blockchain. Therefore, it is possible that several people own some Bitcoin while some individuals might have multiple bitcoin addresses. Since the charts do not show cache in terms of dollar value but do so in terms of Bitcoin, then the current price rally will not affect the data. 

Bitcoin whale dip

This implies that the new addresses did not automatically become whales because of the surge in BTC’s price; instead, they added new coins to their holdings.  According to Glassnode’s data , the overall number of Bitcoin Whales dipped around 18th to 26th December when BTC traded around USD 23,000 to USD 26,400. The cryptocurrency had just reached an all-time high at that time, and 85 whales, to be precise, took advantage of the rally and sold some parts of their holding while retaining the big leagues in the process. 

Rise of Bitcoin Whales 

The amount of Bitcoin Whales began to grow steadily from December 26, when it became apparent that BTC’s price was not going to stop with just slightly increasing in its all-time high. According to  Coingecko , as for Bitcoin itself, the cryptocurrency is presently trading at about USD 34,750, down 6% on the day. 

cryptoDATA 20 Jan 2021 cryptoTIME 1 min read
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