Third Biggest Whale Adds 1,416 Bitcoins In Last 2 Days; Will This Pump BTC?

Bitcoin (BTC) prices have slid by another 9% over the past 7 days. However, the whales have seized this dip opportunity to add more BTC to their wallets.

Whale holds 132K BTCs

According to the data, the third largest Bitcoin whale has bought around 1,416 BTCs in the last two days. Yesterday, the whale wallet added $21.64 million worth of 815 BTC. Meanwhile, the whale purchased another 601 Bitcoin (worth approx $12.6 million) in just one transaction.

As per the Tokenview, the wallet’s Bitcoin holding has now reached 132,003.54. The total holding is worth around $2.568 billion.

The world’s largest cryptocurrency has been on a downtrend since the beginning of this year. BTC prices are down by 60% from its year to date (YTD) value. Bitcoin is trading at an average price of $19,438, at the press time. However, its 24 hour trading volume has jumped by 33% to stand at $32.8 billion.

Many other BTC maximalists have jumped in to increase their holdings. El Salvador bought about 80 Bitcoin at the price of $19,000 each. The total valuation of the transaction stood at $152k.

Meanwhile, Microstrategy added another 480 BTC during this price dip. As per the report, the Bitcoin accumulation was done between the time period from May 3 and June 28. The total purchase was valued at around $10 million in cash. The average price of BTC purchases has been disclosed as $20,817.

Small whales hold 1.12 mln Bitcoin

According to Glassnode, small Bitcoin holders have been aggressively adding the token since March 2020. It mentioned that “Shrimps” are adding around 36.75k BTC/month. It is 0.2% of the total circulation supply but around 1.36x of monthly issuance. As of now, Shrimps are holding 1.12 million Bitcoins cumulatively.

The whales are also adding Bitcoin to their wallets aggressively. They are accumulating around 140K BTC/month and that too directly from the exchanges. However, the whales’ buying strategy often aligns with the BTC market structure. As of now, the biggest of the holders are holding 8.69 million BTC. It is around 45.6% of the total supply.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.