Announced Analyst Data provider, Santiment published transaction data for more than $ 100,000
Santiment experts found out that large cryptocurrency holders, so-called whales, recently increase trade activity. Moreover, their transactions still affect market volatility.
#Bitcoin., #Ethereum, #ChainLink. , and. #BinanceCoin. Continue to See Long-Term Rises in Whale Transaction Counts, Which We Deem Any Single Transactions Valued AT Over $ 100,000. Large Addresses Amongst. #crypto. 's Elite Assets Continue to Make Voltile Waves. https://t.co/cyswkckp26.
- Santiment (@santimentfeed) March 12, 2021
Whales went hunting
Santiment focused on the number of large transactions, but their volume deserves separate attention. Bitcoin-Kit moved 5,000 BTC on March 11 from the address that was alone for seven years. The amount of the transaction exceeded $ 280 million at the rate at the time of the operation.
READ ALSO: Whales actively buy Bitcoins on stock exchanges
That's not all. At the end of January, someone translated 31,100 BTC from a wallet, inactive for about two years. This is almost 1 billion dollars at the market rate at the time of the transaction. Such sums are only 42 bitcoin addresses.
According to BitInfocharts, tracking large transactions, this wallet was replenished in 2021, while bitcoins cost the buyer at $ 202,000. The wallet owner and the recipient of the translation are not known.
China Corporations
The whale effect knows well in the market. However, over the past year, a new phenomenon appeared in the world: China Corporations. They also quickly entered the number of factors moving the market. Moreover, the current bull trend Bitcoin is due to the main companies buying Bitcoin.In August 2020, MicroStrategy bought the first batch of bitcoins. Now the head of the company, Michael Sailor, is considered one of the most influential Bitcoin bulls. He actively promotes the purchase of cryptocurrency and advises colleagues to replace bitcoins part of dollars on corporate accounts. Since then, many, including Tesla, followed his advice.
In January, Tesla acquired bitcoins worth $ 1.5. This became known on February 8. This news provoked a powerful reaction to the market. Bitcoin jumped by 10%, pulling the remaining cryptocurrencies behind him.
Gray Kit.
Corporations replenish their treasury by Bitcoins, but American investors are still difficult to get direct access to cryptocurrency assets due to rigid regulation. Some buy Microstrategy shares to indirectly participate in the growth of BTC. Others prefer to invest in the Bitcoin Trust GRAYScale Bitcoin Trust (GBTC). GBTC is the largest publicly known Bitcoins holder at the moment.
At the beginning of February, BTC in the amount of more than $ 30 billion were under his control. In January, GrayScale bought more bitcoins than miners were mined for the same period.
Such whales play an important role in the Bitcoin ecosystem. They maintain demand and, accordingly, pushing prices up. Watch the whales, it's interesting!
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