A report from the Glassnode platform said that since the beginning of 2020, the number of large holders or so-called “whales” has been declining.
This week, on the Ethereum network, the number of addresses with 10,000 ETH and bleat dropped to 1,050. This is the lowest since last January. In December 2019, the network had 1,115 large addresses, now this figure is lower by about 6%.
In parallel, there is a dynamic increase in the number of “whales” in the bitcoin network, which indicates the transition of great players from the largest altcoin to BTC. Currently, the number of Bitcoin whales holding 10,000 BTC or more has peaked since August 2019.
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According to analyst Connor Abendshane, now many large investors are expecting a surge in the value of the largest cryptocurrency. That is why we are witnessing an active transition of capital from ether to bitcoin.
Another popular analyst, Willy Wu, previously drew attention to similar dynamics. He tweeted that whales have been accumulating bitcoins since January 2020. Moreover, they bought cryptocurrency even in March and April, when many countries of the world were in quarantine in connection with the coronavirus pandemic.
BTC today is growing in price, the coin is close to $ 9500. After halving (reducing the reward of miners), cryptocurrency is gradually regaining its position and can already reach a psychological mark of $10,000 today.