Bitcoin Whales Splurge Over $750,000,000 on Bitcoin in Just Three Months, Says Crypto Analytics Firm Santiment
New data from market intelligence firm Santiment reveals that deep-pocketed Bitcoin (BTC) investors have splurged over $750 million on the king crypto during the last three months.
According to Santiment, Bitcoin millionaires and billionaires have ramped up their activity since May, accumulating the top crypto asset by market cap at a high rate, pushing their total amount of BTC owned up to 11.5 million, which is over half of BTC’s overall supply.
“There are currently 15,870 Bitcoin addresses that hold at least 100 BTC. Collectively, these whales own 11.5 million BTC, making up over half of the total existing supply (59.2%). Over the past 12 weeks, their collective share has risen by 27,755 BTC.”
Furthermore, the crypto analytics platform notes that whale activity centered around Wrapped Bitcoin (wBTC) has seen a major spike in activity as well.
According to the data, on-chain transaction volume of wBTC is at the highest it has been in over a month as high-net-worth traders move the digital asset out of crypto exchange platforms.
“Wrapped Bitcoin is seeing major activity today after a pair of 2,000 wBTC moves that resulted in a drop in exchange supply. On-chain transaction volume is at its highest level in over a month. This is especially relevant in how BTC can be impacted.”
Bitcoin is trading for $29,280 at time of writing, a fractional decrease during the last 24 hours.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/StockStyle/Roman3dArt
The post Bitcoin Whales Splurge Over $750,000,000 on Bitcoin in Just Three Months, Says Crypto Analytics Firm Santiment appeared first on The Daily Hodl.
Go to Source
Author: Mehron Rokhy
