Bitcoin Whales Holdings Grow in Number as 100 BTC Wallets Hit 17-Month High
After a spike in holding during the previous month, the number of Bitcoin wallets holding 100 BTC or more has now reached a 17-month high. More than 283 wallets crossed the 100 Bitcoin threshold in August, according to data provided by blockchain analytics provider Santiment in an Aug. 31 X post.
As crypto prices have let retail traders down, Bitcoin whales are growing in number. A net gain of +283 wallets holding at least 100 BTC has emerged in just 1 month. The now 16,120 such wallets on the network has broken a 17-month high.
Santiment
Wallets known as sharks, which hold at least 10 bitcoins, have been adding to their holdings throughout the same timeframe, according to Santiment. The total estimated value of all these wallets, which range from 10 to 10,000 Bitcoin, is over 133,000 coins valued at over $7.6 billion, according to the blockchain analytics platform.
Crypto Fear & Greed Index Shows Fear as Bitcoin Whales Buy 450 BTC Daily
Hashcash creator and Blockstream CEO Adam Back observed that whales have been buying frenzy since the price of Bitcoin dropped from above $62,000 to over $58,000 on August 28.
Whales back buying 450btc/day every minute all day long, since dip on 28th. Same as Bitcoin mined per day. Go ahead sell them cheap corn,
Back
According to Santiment, smaller traders who continue to impatiently drop their holdings to them are to blame for the rise in whale activity. As of this writing on September 2, the Crypto Fear & Greed Index, which measures mood in the cryptocurrency market, is firmly in the fear area at 26. With an average value of 37, the index indicated that there were more days of fear than greed throughout August.
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