Number of Whales Soars 38% Amid Bitcoin Rise to $11,000
The number of large cryptocurrency holders has skyrocketed amid the rising prices for BTC, according to analytics company Glassnode.
With $BTC's recent price increase, the number of #Bitcoin addresses holding at least $1,000,000 USD has surged by ~38% to around 18,000.https://t.co/akRiFpAg7q pic.twitter.com/fcoOcHtAPh
— glassnode (@glassnode) July 29, 2020
The number of unique addresses with a balance of $1 million or more in BTC has increased by 38%, reaching 18,000.
The market value of BTC has increased by almost 16% in a week, reaching the levels of the beginning of September 2019. Currently, the price of BTC is around $11,100, according to CoinGecko.
With $BTC's recent price increase, the number of #Bitcoin addresses holding at least $1,000,000 USD has surged by ~38% to around 18,000.https://t.co/akRiFpAg7q pic.twitter.com/fcoOcHtAPh
— glassnode (@glassnode) July 29, 2020
Despite the price increase, BTC exchange balances remain at an annual low of 14.5% of the available supply.
The inflow of miners’ funds to exchanges has approached $300,000 per hour, strengthening against the backdrop of rising BTC prices.
Previously, the number of active BTC addresses updated the two-year high. At the same time, online commissions increased by a staggering 750% in a month.