Number of wallets holding more than 1000 BTC is rising since September

by in Cryptocurrency News


The September fall in the value of bitcoin (BTC) was taken advantage of by large investors, who are often called "whales". As a reminder, last week the price of the leading digital currency fell below $ 40,000.

The pullback was triggered by massive sales in the American stock market. The withdrawal of capital from risky assets has led to a drop in the value of technology companies.

The cryptosphere has also been hit by the withdrawal of cash investors. According to Santiment, bitcoin exchanges have been leaving stablecoins over the past few days. Then the People's Bank of China dealt a blow to the market and other digital currencies, confirming a tough stance against representatives of the blockchain industry.

The weakening of the BTC rate was taken advantage of by the "whales" who started buying back in early September. A surge in their activity occurred in the middle of this month, according to data from the Arcane Research company.

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The researchers found that the number of whale wallets containing at least a thousand bitcoins has been gradually decreasing since January.

However, at the end of last month, the trend began to change dramatically. If you pay attention to the graph presented by analysts, you can see that the number of whale addresses is growing along with the volume of transactions made by these same investors. Now almost 2,150 addresses own a thousand or more BTC.

Almost all addresses are accumulating. According to the Glassnode, platform, the number of wallets containing at least 0.01 BTC has reached a four-month high (9.154 million). On the night of Monday, September 27, the bitcoin rate is holding at $ 43,300. The capitalization of the cryptocurrency is more than $ 813.927 billion.