Understanding whale wallets (Bitcoin Rich List)

Bitcoin is a very large application of the blockchain and has opened up transparency and clarity as all information is stored on the blockchain. Bitcoin developed and gradually became a part of the financial market. At this point, it is up to investors to monitor and see the activity of large whale wallets. We see what the distribution of Bitcoin is like, what activities people do who store large amounts of BTC, etc. to contribute to the market assessment.

We can see the statistics of the Bitcoin wallets as well as their activity Here or search on the keyword “Bitcoin Rich List”.

The page name Bitinfochart shows the distribution of the wallets according to the amount of BTC as well as the value of the total number of BTC wallets on the market.

The above statistic also shows that wallets of 100 BTC or more make up only 0.04% of the total number of wallets but make up 63.32% of the total current Bitcoin value. Or if we look at wallets with 10 BTC or more, only 0.38% of the total wallet addresses hold but 85.96% of the total value of Bitcoin in the market.

We can see that a large amount of BTC is concentrated in a small amount of BTC. Just as in the present world economy, a small number of the richest people own most of the world’s wealth. According to the Fed’s September 2017 statistics, the richest 1% of the year holds 38.5% of the country’s total wealth. So in the financial markets, wealth is still concentrated in a small number of people. The crypto market is no exception.

However, if we look at the data on BTC wallet addresses, we also need to understand that a wallet address can belong to a person or a group of people or organizations … and conversely, a person can also be a lot of different people Wallet addresses. The currently largest wallet address is, for example, the cold wallet of the Binance exchange. This is this exchange wallet that stores the BTC of both their customers and the amount of BTC owned by many different people.

It is possible for a person to own a large amount of BTC, which they also split across many wallets to reduce the risk of concentrating all assets on one wallet address. Or the wallets have the shortest time to start charging or withdrawing. There are wallet addresses that have been loaded for a long time since 2017, but then there is no deposit or withdrawal activity, it is possible that the owner of this wallet has lost his private key or cannot access it. Or there are wallet addresses where the BTC amount is loaded regularly, this is the wallet of the person who accumulates BTC …

The above BTC address tracking reflects the distribution of BTC by wallet addresses on the blockchain as well as the activity of these wallets. While you can’t tell who these addresses belong to (except for public wallets like Exchange wallets), information about BTC wallet addresses gives some market clues.

Those wallets that haven’t moved for a long time and suddenly put BTC on the exchange may want to take profits. Or these wallets, which have been around for a long time but are still depositing BTC, show that they keep piling up without worrying about the price situation. Over the years we’ve also seen whale wallets continue to pile up heavily on BTC. This is the information that can be viewed by monitoring the activity of BTC wallets. Hope you have more perspectives on the BTC market as well as on crypto.