Bitcoin ‘Mega Whales’ Accumulating BTC Aggressively Over Last Seven Weeks: Santiment

Must read

How the Metaverse could impact the lives of kids

The Metaverse is a virtual environment where people can carry out various tasks. The term “metaverse” was a term originally coined...

6 Questions for Dominik Schiener of the Iota Foundation

We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to...

Ethereum in danger of 25% crash as ETH price forms classic bearish technical pattern

Ethereum's native token Ether (ETH) looks ready to undergo a breakdown move in May as it forms a convincing "bear pennant" structure.ETH price to...

Welcome to Mars: I own everything, have total privacy and life has never been better

This is a parody of the article published by the World Economic Forum titled “Welcome to 2030. I Own Nothing, Have No Privacy And...

Crypto analytics firm Santiment says huge whales have been gobbling up Bitcoin (BTC) since the end of 2021.

Santiment notes on Twitter that “mega” whale addresses holding 1,000 or more BTC have added a combined 220,000 Bitcoin, more than 1% of BTC’s total supply, in the seven weeks since December 23rd.

The analytics firm says it is the largest mega whale Bitcoin accumulation since September 2019.

Image
Source: Santiment/Twitter

BTC is trading at $43,753.58 at time of writing. The top-ranked crypto asset by market cap is up more than 18.5% from where it was priced seven days ago.

Santiment notes that waves of Covid-19 fears have had negative impacts on Bitcoin’s price in the past two years. The analytics firm argues those fears are showing signs of decline, however.

Image
Source: Santiment/Twitter

Santiment also says the stablecoin Tether (USDT) has had less network activity recently, another potentially bullish indicator for Bitcoin.

“Tether’s amount of daily active address on its network has quietly fallen to two-year lows, rapidly dropping after mid-November’s Bitcoin all-time high. Historically, we’ve seen less over stablecoin transactions coincide with following BTC rises.”

Image
Source: Santiment/Twitter

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/prodigital art/Chuenmanuse

More articles

Latest article

How the Metaverse could impact the lives of kids

The Metaverse is a virtual environment where people can carry out various tasks. The term “metaverse” was a term originally coined...

6 Questions for Dominik Schiener of the Iota Foundation

We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to...

Ethereum in danger of 25% crash as ETH price forms classic bearish technical pattern

Ethereum's native token Ether (ETH) looks ready to undergo a breakdown move in May as it forms a convincing "bear pennant" structure.ETH price to...

Welcome to Mars: I own everything, have total privacy and life has never been better

This is a parody of the article published by the World Economic Forum titled “Welcome to 2030. I Own Nothing, Have No Privacy And...

Binance CEO CZ to support Terra community but expects more transparency

Pointing out the potential issues with forking Terra, CZ said that “Minting, forking, don’t create value.” 23086 Total views 60...