$726,000,000 in Bitcoin Bought by Crypto Whales in Just Nine Days, Says Analyst Firm Santiment
Crypto analytics platform Santiment reveals that whales have accumulated hundreds of millions of dollars worth of Bitcoin (BTC) in less than a fortnight.
Sentiment says that relatively large holders of the flagship crypto-asset have bought approximately $726 million worth of Bitcoin in the past nine days.
According to Santiment, three top-20 stablecoins by market capitalization are also experiencing high demand.
“Bitcoin addresses with between 100 and 10,000 BTC have bought $726 million in BTC in the past nine days. Meanwhile, stablecoin assets like USDT, BUSD and DAI are also being bought quickly. This is a recipe for good things.”
The crypto analytics firm says that over the past three weeks, addresses holding between 100 and 10,000 Bitcoins have grown at the fastest rate since February.
“Furthermore, we have seen 159 new addresses with between 100 and 10,000 BTC in the last three weeks alone. This is the fastest growth of these addresses in 10 months, which was right when FUD peaked after the war between Russia and Ukraine was announced for the world.”
On stablecoins, Santiment says Tether (USDT) and Binance USD (BUSD) stablecoin addresses worth between $100,000 and $10 million have collectively accumulated $922.4 million of the two crypto assets over the past three days.
“Tether’s key addresses have collectively accumulated $817.5 million more in purchasing power over the past three days, a +7% increase from what they had before December 10, 2022.
Binance USD key addresses have collectively accumulated $104.9 million more in purchasing power in just the last three days, a +9% increase over what they had before December 10, 2022.
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