Bitcoin ‘Mega Whales’ Make Reappearance As BTC Struggles To Stay Above $40,000: Crypto Intelligence Firm Santiment
As the price of Bitcoin (BTC) continues to track sideways in early 2022, BTC “mega whales” appear to be buying back into the space.
According to crypto analytics firm Santiment, in the past three months 10 new Bitcoin whale addresses have reappeared that hold 10,000 or more BTC, raising the total number of “mega whales” to 89.
The new additions represent a 12.7% increase from the 79 mega whales that existed in late October, which was a nine-year low.
Bitcoin is trading at $41,739.51 at time of writing, down 1.14% in the past 24 hours.
Santiment also notes that tokens associated with metaverse projects have been seeing increases in trading volume that haven’t been reflected in price increases. The analytics firm says traders should “keep an eye on” Decentraland (MANA), Axie Infinity (AXS) and The Sandbox (SAND).
Decentraland is a virtual reality platform where content creators and developers can monetize their content and applications. The project’s native token, MANA, is trading at $2.83 at time of writing.
Axie Infinity is a trading and battling game based on the blockchain. AXS is trading at $72.88 at time of writing.
The Sandbox is an Ethereum-based virtual world that allows fans of video games to build, own and monetize their gaming experiences. The project’s native token, SAND, is currently trading at $4.44.
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The post Bitcoin ‘Mega Whales’ Make Reappearance As BTC Struggles To Stay Above $40,000: Crypto Intelligence Firm Santiment appeared first on The Daily Hodl.
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Author: Daily Hodl Staff
