'Whales' added 50 thousand bitcoins to their wallets in ten da | Free Cryptocurrency

"Whales" added 50 thousand bitcoins to their wallets in ten days

According to the analytical service Santiment, large cryptocurrency holders have returned to the accumulation of digital coins

The largest bitcoin holders, whose addresses contain from 100 to 100 thousand digital coins, have added 50 thousand bitcoins to their wallets over the past ten days ($ 1.8 billion at the current exchange rate). This is indicated by the data of the analytical service Santiment.

Thus, the trend in which the "whales" got rid of bitcoin was disrupted. Santiment indicated that in the period from April 14, when the main cryptocurrency peaked at $ 64.8 thousand, until the coin fell to $ 30 thousand, which happened on May 19, the "whales" sold about 130 thousand bitcoins.

The accumulation of digital coins by "whales" usually indicates an upcoming rise in quotations, while the sale of cryptocurrency by large holders is perceived by investors as a signal for a fall. A similar situation was observed last month.

The collapse of quotations on May 19 was preceded by a record inflow of bitcoins to the largest crypto exchanges since March 2020. After the collapse, digital coins began to be withdrawn from the platforms. As a result, the largest outflow of digital coins was recorded in a year. Users of crypto-exchanges per day brought about 175 thousand bitcoins to cold wallets for $ 7 billion at the exchange rate at that time.

The next day, it became known that during the fall in the price of bitcoin to $ 30 thousand, large investors and funds began to buy it. After that, the number of bitcoins on cryptocurrency exchanges reached a minimum in the last four months.