On-chain analysis by the research and analysis company Glassnode shows that the number of Bitcoin whales (with addresses of at least 1,000 Bitcoins) has exceeded 1,900 clusters. Since 2016, the number of 1,000 golden whales of online participants has never been higher.
According to the statistics of Glassnode, the 7-day tracking statistics of the number of whales (addresses with balance ≥ 1k) increased by 2%. This means that since the recent announcement of Paypal encryption support, the number of large BTC holders (1,940 clusters ≥ 1,000 USD) has increased significantly.
The increase in BTC whales shows that many investors believe that prices will rise in the future. On October 22, 2020, the well-known Bitcoin analyst Willy Woo released data on Twitter, which shows that there are more than 23 million active users today.
“23.4 million active data sources [holders]: Cumulative physical net growth, which has been taken into account [holders] Less [holders] Totally gone (the zero coin in the wallet),” Woo Said.
On-chain data and blockchain analysis from bitinfocharts.com show that the number of Bitcoin whales with 1,000 to 10,000 BTC on a single address has increased significantly. On February 25, 2019, there were 1,709 addresses with 1,000 to 10,000 BTC, which increased by 24.28% to 2,125 addresses.
Interestingly, the number of addresses with 100 to 1,000 BTC dropped from 14,749 to 13,869 addresses today. Strangely, addresses with 100,000 to 1,000,000 BTC dropped from 5 to 1.
Statistics from bitinfocharts’ “100 richest Bitcoin addresses” also show that six of the top 20 addresses have exchanges with cold wallets.
Huobi has a maximum balance of 203,502 BTC, located in one address. Huobi’s cold wallet address ranks first in the rich list, accounting for 1.10% of circulating bitcoins. Next are the exchange wallets of Coinbase, Binance, Bitfinex, Bittrex, and the smaller Binance cold wallet.
Data from May 1, 2020 shows that there are only 100,000 to 1,000,000 BTC for 002 addresses, which means that 123 whales have joined the battle since then.
Although the price of Bitcoin (BTC) has been rising this month, many supporters have noticed the accumulation of whales. Venture Coinist podcast host Luke Martin noticed this trend in the first week of October.
What do you think of the recent growth of whales this month? Let us know your thoughts on this topic in the comments section below.
Picture Credits: Shutterstock, Pixabay, Wiki Commons, bitinfocharts.com, Glassnode,
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