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.
🐳 #Bitcoin Whale addresses with 100+ $BTC continue their long term accumulation pattern during this volatility in the 34k to 38k range. In the last 5 years, 1.7 million $BTC was added to these big addresses, including 60,000 more in the last 2 months. 📈 https://t.co/VVNPS2hUEI pic.twitter.com/FvpuZoimnT
— Santiment (@santimentfeed) January 27, 2022
“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.
🙊 #BitcoinThe price dominance of is often discussed in #crypto circles. But social dominance is also important. To #altcoins‘Wonderful 2021, $BTC is discussed less than half as often as a year ago. Usually high $BTC social dominance is ideal. https://t.co/Cy1RMU9No1 pic.twitter.com/01znlHRQoN
— Santiment (@santimentfeed) January 28, 2022
“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”.
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