The Number of Bitcoin Whales Is Increasing Over Time, Data Shows
Bitcoin’s price has been in a strong uptrend since the March lows of $3,500. Despite the increasingly prohibitive cost of entry, the number of BTC whales is growing. The metric is not at an all-time high value yet but the growth of this suggests an increasing amount of capital entering the space.
Glassnode, a blockchain analytics firm, reported just recently that the number of Bitcoin whales (entities holding in excess of 1,000 coins) recently pushed above 1,800. This is the highest that the metric has been at since the middle of the 2017 rally:
Chart of BTC's macro price action with number of whales overlay from Glassnode
Coin Metrics, a top blockchain analytics firm, recently shared a number of indicators that show why Bitcoin’s price has been rather “remarkable” over the past few weeks despite a flurry of negative news events. Some of those indicators are as follows:
Photo by Taylor Brandon on Unsplash Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com The Number of Bitcoin Whales Is Soaring—and That's Good For BTC
Originally from Bitcoinist.com https://ift.tt/3jNT3Qn
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