The Biggest Bitcoin Whales Gobble Up Nearly $13,000,000,000 Worth of BTC in 2024 Alone: Santiment
New data shows that the largest Bitcoin (BTC) whales will snap up billions of dollars worth of leading crypto assets by market cap in 2024.
According to market research platform Santiment, digital wallets holding 100 to 1,000 BTC have sold out the crypto king this year, while wallets holding 1,000 to 10,000 BTC have gobbled up Bitcoin at a rapid pace.
“Regardless of the impressive volume happening with Bitcoin ETFs (Exchange Traded Funds), there has been a significant shift in the amount of BTC supply held by wallets of different sizes:
1,000-10,000 BTC wallets: $12.95 billion added in 2024.
100-1,000 BTC Wallets: $7.89 Billion Down in 2024.”
Source: Santiment/X
According to Santiment, the accumulation of larger BTC wallets far exceeds the sales of the smaller cohort of whales. The analytics firm also notes that the number of large Bitcoin transactions worth more than $100,000 saw a sudden spike last week as BTC broke through the $50,000 mark.
“The net difference between these smaller and larger wallets, which are typically associated with the highest levels of active whales, suggests an estimated +$5.06 billion in Bitcoin accumulation through 100-10,000 BTC wallets this year.
Additionally, the last five days saw the highest level of transactions valued at more than $100,000 since June 2022. Interest from key stakeholders has increased significantly after Bitcoin surpassed $50,000 this week.”
Bitcoin is trading for $52,415 at the time of writing, up over 1.50% in the last 24 hours.
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