In the last 24 hours BTC’s network activity increases, following a major chain of transactions by the so-called BTC whales. Santiment, an on-chain crypto analytics website, released intriguing data that in the last couple of days BTC whales have increased their activity. Just over the weekend, big whale wallets added over 20 000 BTC.
The tracking agency disclosed that a total of 16 104 BTC addresses are in possession of some 9.1 million Bitcoins, which is worth around $530 billion.
The company even tweeted, adding an air of importance to these mystery transactions, “After declining holdings from April 10 to May 4, this group (BTC whales) is showing signs of accumulating again with 20k BTC added during the past 2 days,”
The rise in activity is des to the latest BTC price jump. However, both the volatility of the crypto asset and the spike of interest it accumulated has been steady since the start of the year, despite a couple of dips. These declines nevertheless did not stop institutional clients from investing in all sorts of BTC-related products, including the digital coin itself.
However, the supply of BTC is at an all-time decline due to the purchasing power of both crypto whales and institutions. Moreover, many of these transactions are untraceable, and many end up in unknown crypto wallets.
Since the start of 2021, the price of Bitcoin has been up more than 100%, with an all-time high in April, when it reached $64 600 per coin. Its current trading price is $59 000, with an impressive market cap of $1.1 trillion.
