|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Whale Activity Explodes: Bitcoin Giants Amass $3B in 24 Hours, Signaling a New Crypto Era
May 06, 2024 at 04:00 am
Bitcoin (BTC) whales have purchased nearly $3 billion worth of the cryptocurrency in the past 24 hours, a sign of potential future market growth. This accumulation of tens of thousands of BTC was detected using CryptoQuant's search filters and does not include centralized exchanges or miner wallets. The whale activity surge is not related to recent BTC exchange-traded funds (ETFs).
Whale Activity Surges: Bitcoin Titans Accumulate Nearly $3 Billion in 24 Hours, Signaling a New Era
In a resounding affirmation of Bitcoin's (BTC) allure, deep-pocketed investors, known as whales, have embarked on an unprecedented buying spree, snapping up a staggering 47,000 BTC in a 24-hour frenzy. This colossal accumulation, worth approximately $3 billion, has sent shockwaves through the cryptocurrency world, heralding the dawn of a new era.
Ki Young Ju, CEO of the blockchain intelligence platform CryptoQuant, has shed light on this remarkable whale activity. Utilizing the platform's advanced search filters, Ju isolated top-tier crypto holders with minimum balances of 100 BTC, excluding centralized exchanges and miner wallets.
Ju's meticulous analysis reveals that this recent surge in whale activity is not driven by the highly anticipated Bitcoin exchange-traded funds (ETFs) that received approval from the U.S. Securities and Exchange Commission (SEC) in January.
Delving deeper into this phenomenon, Ju has uncovered a striking trend among newer whales, defined by CryptoQuant as entities holding at least 1,000 BTC with an average coin age of less than 155 days. These up-and-coming whales have amassed nearly twice as much BTC as their long-term counterparts, who hold at least 1,000 BTC with an average coin age of 155 days or more.
This shift in ownership patterns suggests that an influx of fresh capital is propelling the current Bitcoin rally. Ju theorizes that a portion of the older BTC tokens is being transferred to new holders, a trend that aligns with Bitcoin's recent 13-year peak in average dormancy rate.
As of the time of writing, Bitcoin is trading at $63,582, a significant 2.86% increase over the past 24 hours. This surge in value, coupled with the unprecedented whale activity, paints a bullish picture for Bitcoin's future prospects.
This momentous accumulation by Bitcoin whales is a testament to their unwavering belief in the digital currency's long-term value. As the cryptocurrency market continues to evolve, the actions of these whales will undoubtedly shape its trajectory. Whether we are on the cusp of a new era of prosperity or a speculative bubble remains to be seen, but one thing is for sure: the world of Bitcoin is witnessing a seismic shift driven by the unyielding conviction of its largest investors.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Altcoins Set to Explode: Crypto Analysts Predict Record Highs in 2024
- May 17, 2024 at 03:19 pm
- Altcoins Poised for Explosive Growth: Crypto Analysts Predict ATHs in 2024 As the cryptocurrency market exhibits optimistic indications of a sustained
-
- Embrace Meme Coins: Diversify Your Crypto Holdings with Bonk and Raboo
- May 17, 2024 at 03:19 pm
- Embrace the Meme Coin Revolution: Diversify Your Crypto Portfolio with Bonk and Raboo In the ever-evolving crypto landscape, where volatility reigns s
-
- Three Cryptocurrencies Poised for Takeoff: Toncoin, Render, and Algotech
- May 17, 2024 at 03:17 pm
- Toncoin, Render, and Algotech: The Crypto Trifecta Set to Soar In the ever-evolving crypto market, where fortunes are made and lost with lightning spe
-
- AI Cryptos Lead Surge in Crypto Market: Render, Bittensor, and Raboo Dominate
- May 17, 2024 at 03:14 pm
- The Rise of AI Cryptos: Render, Bittensor, and Raboo Lead the Charge The cryptocurrency market is experiencing a resurgence in 2024, with a particular
-
- Furrever Token Aims to Rival Success of Crypto Giants, Channeling Cuteness and Engagement
- May 17, 2024 at 03:14 pm
- Furrever Token: Poised to Emerge as a Crypto Giant, Rivaling the Success of XRP, Cardano, and Polygon In the ever-evolving digital asset landscape, a
-
- Shiba Inu and Dogwifhat Soar as Meme Coin Adoption Expands
- May 17, 2024 at 03:05 pm
- Shiba Inu and Dogwifhat Surge Amidst Wider Meme Coin Adoption Integration with Global Payment Service Shiba Inu (SHIB), the second-largest meme coin b
-
- USD Index Key to Bitcoin's Potential 127% Surge, Says Analyst
- May 17, 2024 at 03:04 pm
- US Dollar Index Holds Key to Bitcoin Price Surge, Analyst Predicts 127% Rally Acclaimed financial analyst Jamie Coutts from Real Vision has asserted t
-
- CoinGeek AMA Highlights Blockchain Innovations Ahead of London Conference
- May 17, 2024 at 03:03 pm
- CoinGeek Weekly Livestream AMA Explores Blockchain Advancements as London Blockchain Conference Nears In anticipation of the London Blockchain Confere
-
- Chainlink Poised for Surge as Technical Analysis Reveals Bullish Momentum
- May 17, 2024 at 03:02 pm
- Chainlink Poised for a Surge, Technical Analysis Reveals Strong Bullish Momentum NEW DELHI, India (CoinChapter.com) - Chainlink (LINK), the leading pr