The number of wallet addresses holding between 100 to 1,000 Bitcoin is now rising! It’s a positive signal for the whole market!

May 31, 2022 - Around 2 mins mins to read

The number of wallet addresses holding between 100 to 1,000 Bitcoin is now rising!

As the market recovers, a Bitcoin whale is buying more of the leading cryptocurrency. Its wallet has accumulated 806 BTC in the last seven days, as Bitcoin’s price has risen beyond $31,000.

This whale’s wallet holds the largest number of Bitcoin after Binance and Bitfinex crypto exchanges. The whale made the following purchases, according to data from crypto-tracking portal BitInfoCharts:

86 BTC worth $2.47 million on May 27th
481 BTC worth $14.15 million on May 26th
77 BTC worth $2.28 million on May 25th
162 BTC worth $4.72 million on May 24th

The big whale spent more than $23.6 million in total to accumulate 806 BTC. The whale’s BTC stack is valued more than $25.4 million at the time of writing.

The whale had accumulated a net of 3,315 BTC throughout the first three weeks of May before to last week’s aggregate buy of 806 BTC. During the month of May, the wealthiest non-exchange Bitcoin wallet acquired a total of 3,821 BTC.

Santiment, a crypto analytics business, stated last week that the number of addresses holding 100 to 1,000 BTC is increasing.

“As Bitcoin continues treading water at $29,600, the amount of key whale addresses (holding 100 to 1,000 BTC) continues rising after the massive dumping from late January. We’ve historically seen a correlation between price & this tier’s address quantity.”

???? As #Bitcoin continues treading water at $29.6k, the amount of key whale addresses (holding 100 to 1k $BTC) continues rising after the massive dumping from late January. We've historically seen a correlation between price & this tier's address quantity. https://t.co/SZ7A4WaD29 pic.twitter.com/nDmdGzFAXV
— Santiment (@santimentfeed) May 25, 2022

According to Santiment, the number of Bitcoin whale addresses has increased from a low in January of this year.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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The number of wallet addresses holding between 100 to 1,000 Bitcoin is now rising! It’s a positive signal for the whole market!