Whales and Sharks Devour Over $4,700,000,000 in Bitcoin (BTC) in Just Seven Weeks: Santiment
According to crypto analytics firm Santiment, major Bitcoin holders have become more aggressive, amassing significantly more BTC than usual over the past seven weeks.
Santiment says whale and shark addresses, which refer to holders holding over 1,000 BTC and 10 BTC respectively, have accelerated their pace of accumulation following news that BlackRock is attempting to launch a spot bitcoin exchange-traded fund (ETF ) to hang up.
Data from the analytics firm shows that the two cohorts have bought 154,500 BTC worth over $4.75 billion since the end of April.
“Bitcoin’s whale and shark addresses have continued to accumulate, with a large portion of BTC purchases occurring over the past two weeks amid news of ETF launches. As long as key stakeholders continue to buy, further crypto gains in July may be warranted.”
Source: Santiment/Twitter
Santiment is also following Litecoin (LTC) and its pre-halving rally, which has seen the peer-to-peer payment network surge 42% in the past two weeks alone. According to Santiment, mainstream FOMO (fear of missing out) could be a sign that the LTC hype is about to fizzle out.
“Litecoin is less than five weeks away from its halving event, which will take place on August 3rd. LTC prices have suddenly skyrocketed, posting a 26% surge in just over a day. Watch out for mainstream FOMO as this usually heralds top local events until the crowd calms down.”
Source: Santiment/Twitter
At the time of writing, Litecoin is trading at $113.21, up over 6% over the past 24 hours.
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