Richest Bitcoin Whale’s BTC Holding Explodes to Over $2,560,000,000 Amid Renewed Hoarding Frenzy
The richest non-exchange Bitcoin (BTC) whale continues to gobble up BTC, as the largest crypto by market cap hovers near $20,000.
According to data from BitInfoCharts, the whale address has added 1,480 BTC since June 30, bringing the total to approximately 132,883 Bitcoins, worth nearly $2.7 billion at the time of writing.
The wallet currently has its largest balance of Bitcoin ever.
The data reveals that the only two addresses that have more BTC belong to Binance cold wallet and Bitfinex cold wallet.
Bitcoin has been tracking sideways since June 30 and is trading at $20,269 at the time of writing. The top-ranked crypto asset by market capitalization has gained more than 4% in the past 24 hours.
Cryptoanalysis firm Santiment notes that large wallets are on the rise as the number of addresses with more than 10 BTC has reached its highest level since February 2021.
“The amount of Bitcoin addresses with 10+ BTC has increased, especially since mid-June. Over the past 30 days, these addresses have increased by 1.12%. There are 149,200 addresses with 10 or more BTC, the most held since February 2021.”
Sentiment too says addresses holding between 10 and 100 BTC have added 52,000 Bitcoin to their wallets in the past five weeks, raising their holdings to the level they were at in January.
“Bitcoin addresses with between 10 and 100 BTC have been piling up Satoshis on this decline, collectively increasing their holdings to 4.29 million BTC. Over the past 5 weeks, as prices have rebounded to -27%, they have added to 52,000 more coins to your wallet.”
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Featured Image: Shutterstock/dewa hartawan/andrew1998
