Whales bought 60,000 Bitcoins in the last 2 months and accumulated another 1.7 million BTC in the last 5 years

As reported by popular on-chain data provider Santiment, large holders (often referred to as whales in the crypto space) continue to accumulate bitcoin. This time, the company shared reports of BTC whales holding at least 100 BTC in wallets.

According to another source, wallets with more than 100 BTC hold up to 3.9 million bitcoins (nearly 21% of all BTC in circulation).

1.7 million BTC bought since 2017

As BTC price fell from $57,000 over the past two months to as low as $33,700 on Jan. 24, wallet owners with over 100 BTC have steadily bought more of the top cryptocurrency.

Since December, they have added about 60,000 BTCs to their holdings, which equals $2,200,026,000 (calculated at $36,592).

According to a report by Santiment, whales collected a “huge” amount of 1.7 million BTC worth $62,334,070,000 (including the aforementioned 60,000 coins) in the 5 years starting in 2017.

https://twitter.com/santimentfeed/status/1486781444957487107?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener
“Bitcoin whale addresses Yes above 100 BTC continues the long-term accumulation pattern during volatility in the 34th area.000 until 38000 dollars. In the last 5 years, 1.7 million BTC have been added to these big addresses, including 60.000 in the last two months”.

Follow BitInfoCharts, the number of wallets holding 100-1,000 BTC is 13,808 addresses and contains 3,956,271 BTC worth $144,901,597,476, which is 20.89% of all Bitcoins in circulation.

The source: BitInfoCharts

On Jan. 20, whales bought 40,000 bitcoins before the price dropped below $42,000.

BILLIONrate tBitcoin’s social dominance is declining

Santiment also shared that Bitcoin has been losing its dominance on social media since last year. After 2021, which will bring significant gains for altcoin holders, the number of Bitcoin discussions will halve compared to the previous year.

Typically, BTC’s price dominance and social dominance are at the same high level. Santiment said high prices have dominated from early 2022 to today.

https://twitter.com/santimentfeed/status/1486885077514481669?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener
“ratio Bitcoin’s value dominance is often discussed in crypto circles. But social dominance is also important. After a great 2021 give me Altcoins, BTC discussed less than half of the previous year. Normally, BTC’s social dominance is high New is optimal”.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page