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News - Bitcoin-Whale buys Bitcoin for $7.6 billion
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02-09-20241 min read
Bitcoin-Whale buys Bitcoin for $7.6 billion
While some cryptowhale newcomers are overwhelmed by the current price correction, cryptowhales are buying Bitcoin on favorable terms.
- Anyone who owns more than 100 BTC is considered a whale in the crypto world. The number of these whales recently rose to a 17-month high, as data from Santiment shows.
- With 283 new whale wallets, more than 16,000 entities now own more than 100 BTC.
- So-called crypto sharks (investors with at least 10 Bitcoin) have also increased their holdings, according to the analytics firm.
🐳 As crypto prices have let retail traders down, Bitcoin whales are growing in number. A net gain of +283 wallets holding at least 100 BTC has emerged in just 1 month. The now 16,120 such wallets on the network has broken a 17-month high. pic.twitter.com/DcAU0W01Pk
— Santiment (@santimentfeed) August 31, 2024
- In total, whales and sharks have purchased more than 133,000 Bitcoins for a total of USD 7.6 billion in the past 30 days, the report adds.
- Whales are individuals or entities that hold large amounts of cryptocurrency. Furthermore, whales are considered crypto whale professionals. Their behavior provides insight into possible future market movements.
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