New research shows long-dormant Bitcoin whales are starting to awaken.
An increasing number of Bitcoin addresses that have been inactive from six months to two and a half years are starting to move their BTC, reports the crypto analytics company Flipside Crypto.
According to Bloomberg, those addresses include a lot of Bitcoin whales holding BTC in large amounts.
“The concentration of ownership is what makes the activity so potentially market moving. Often referred to in the industry as whales, about 1,000 addresses control 85 percent of all Bitcoins, and include many early investors that have remained relatively inactive during the stratospheric price surge and collapse of the past two years. ‘We’ve definitely seen that many long-time holders of Bitcoin are becoming active, said David Balter, chief executive officer of Flipside.'”
In October, 3.8 million Bitcoin addresses were inactive, a number that has now dropped to 2.8 million.
This is the second study on Bitcoin whale activity in the past week. New data from Delphi Digital found that about half of Bitcoin’s supply hasn’t moved in the past year.
Source
Plagiarism is the copying & pasting of others work without giving credit to the original author or artist. Plagiarized posts are considered spam.
Spam is discouraged by the community, and may result in action from the cheetah bot.
More information and tips on sharing content.
If you believe this comment is in error, please contact us in #disputes on Discord
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit