193 Bitcoin Addresses Join the Bitcoin Whale Club…Details Here

193 Bitcoin Addresses Join the Bitcoin Whale Club…Details Here

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Answer 193 Bitcoin Addresses Join the Bitcoin Whale Club…Details Here

Bitcoin whales are considered one of the largest wallets affecting the price movement of Bitcoin, especially if there is consistency between them.

Recently, the accumulation of Bitcoin has increased significantly despite the significant decline in the price of the currency.

Even successive jumps in volatility and inconsistent trading volumes do not affect long-term bitcoin holders.

As the price of the digital currency struggles to reach and hold the $50,000 level, bitcoin whales have expanded their portfolios with significant backlogs in the past 10 weeks.

The Bitcoin Whale Club and to join it you must have between 100 and 1,000 Bitcoins.

Recently, according to data from Santiment platform – which highlights the increasing number of bitcoin whales since the beginning of the fourth quarter of 2021 – a total of 193 bitcoin addresses have joined the prestigious whale club in the past 10 weeks.

Read:Tether announces plan to turn a Swiss city into the crypto capital of Europe

Overall, 13,942 addresses now hold between 100 and 1,000 bitcoins, which is 1.4% higher than late September 2021.

Tweet Santiment on Twitter:

The number of Bitcoin whale addresses holding from 100 to 1,000 Bitcoin has 193 more addresses in this prestigious club, compared to 10 weeks ago.

Bitcoin Circulation Supply and Hash Rate:

Earlier this week, the supply of bitcoin in circulation exceeded the level of 18.9 million, which means that more than 90% of the total coins have already been mined.

The Bitcoin hash rate, an important indicator of the health of the Bitcoin network, is up 93% from recent lows.

Although network indicators have improved, the latest price drop has caused major problems for cryptocurrency holders in the short term.

As it was stated in a recent “Glassnode” post:

We are currently noticing an acceleration in realized losses among Bitcoin holders, moving over $1 billion per day on two occasions during this correction.

While realized losses only directly show that below-level supply is being expended, we usually assume that this reflects the size of the upper bound on new selling pressure.

Read:Project “Diem” moves from Switzerland to the United States to launch a stable digital currency backed by dollars

Read also:

Cryptocurrency market turns green after Fed meeting

Price forecast for the digital currency “LUNA” after it is listed on the trading platform “Kraken”

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