“Whales” Acquired Cryptocurrency for $ 108 Million

Kataryna Kovtun May 26, 2020

BitXmi.Com

Image for post
Image for post

Large investors took advantage of the decline in the price of bitcoin to buy when its price dropped to $ 8600

Large investors used the recent depreciation of bitcoin from $ 9,500 to $ 8,600 to accumulate cryptocurrency. Since May 20, 12 thousand BTC have been received in “whale” wallets, which at the current rate is about $ 108 million. The data was published by the analytical service Santiment in its Twitter account.

Image for post
Image for post

Santiment@santimentfeed

1/ Are $BTC whales back to accumulating?

Image for post
Image for post

Since Bitcoin’s drop below $9,500 on May 20th, addresses holding 100 or more #Bitcoin have added another 12,000 $BTC to their bags — more than $108,000,000 at current prices.

Since the start of the year, these addresses have shown a

Image for post
Image for post

77

4:41 AM — May 26, 2020

Twitter Ads info and privacy

27 people are talking about this

«Since the moment the Bitcoin rate fell below $ 9,500 on May 20, addresses storing 100 or more BTCs have added another 12 thousand BTCs to their savings — more than $ 108 million at the current price», — analysts wrote.

They noted that major players replenish bitcoin during a fall in its price, and when it rises, they sell it. For example, on March 12–13, when the cryptocurrency rate dropped to $ 3800, investors with a balance of 100 BTC or more bought coins worth $ 500 million.

Most of them were sold as the price of the main digital asset increased to $ 8,000. However, then, when bitcoin continued to go up to $ 10,000, major players resumed cryptocurrency purchases.

Retail Investors Also Began to Accumulate Cryptocurrency

Image for post
Image for post

Yesterday, May 25, the number of addresses containing at least 0.01 BTC, which is about $ 88 at the current exchange rate, reached a historic high of around 8.47 million. At the same time, the number of wallets with a balance set a new record of 3.05 million at 0.1 BTC ($ 880).

The number of addresses with a small amount of cryptocurrency began to increase after May 11, when a halving took place on the bitcoin network. This is comparable to the expectations of small investors of a strong rise in the price of BTC, as happened in 2016. In the first month after the previous reduction in the coin mining reward, its price fell by 30% and then went into a phase of long-term growth from around $ 500.

Read more crypto news here…

Join Bitxmi Exchange and get $10 worth of BXMI token after your first trade

Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi’s role is to inform the cryptocurrency and blockchain community about what’s going on in this space. Please do your own due diligence before making any investment. Bitxmi News won’t be responsible for any loss of funds.

🔗| Secure & Fast Crypto💰 Exchange🧮. ⚡| Low Trading & Withdrawal Fees. 🔥 |100+ Coins & 144+ Pairs.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store