Bitcoin has increased by almost 5% in the past 24 hours.
With some downturn in the markets, Bitcoin whales increased their activity. A very important notification came from the famous platform Whale Alert, which drew attention to the big movements in the crypto money markets. 19,000 BTC moved between two unknown wallets. This transaction is worth $1.1 billion at the current price of Bitcoin.
The transfer of the Bitcoin transaction recorded on Blokchain.com took place on May 5, 19:38 UTC. Due to price increases since the beginning of the year, crypto whales are moving more than before. Bitcoin price has increased 90% in the last 4 months. At the time of writing, Bitcoin watches at $57,800. The total market value of bitcoin is $1.08 trillion.
Whales Want to Take Advantage of the Decline
Apart from the last transaction, many large and small transfer news continues to come from BTC whales. Another mid-sized whale sent 2,250 Bitcoins worth about $125 million from their wallet to Coinbase, one of the world’s largest cryptocurrency exchanges. Someone who could be described as a whale cub transferred 820 BTC worth $ 47 million from Xapo to Binance. In addition to Bitcoin, whaling activity in other cryptocurrencies such as Ethereum (ETH), USDT Ripple (XRP), and Binance Coin (BNB) has also increased over the past few days. A leading ETH whale address transferred 159,391 ETH to an anonymous crypto wallet earlier yesterday. The value of this transaction is approximately 558 million dollars.
New Bitcoin Whales Continue to Be Born
According to the data of the giant analytics company Santiment, although the recent decline has worried investors, the rich saw it as an opportunity to buy. On the horizontal map after the fall, new whales were born. The number of addresses holding 1,000 BTC reached 2,234. On Tuesday, May 4th, 7 new whales were formed, the highest in the last two months.
The distribution of Bitcoin in the market to all addresses is quite remarkable. The 4 richest addresses have a total of 558,816 BTC. This means about 32 billion dollars. The number of addresses with more than 10,000 BTC is 82. The total value of 2,096,015 Bitcoins in these addresses is over $121 billion. The rate of addresses with 0 to 0.001 BTC is 51.37%. The total value of these 19,649,912 addresses was recorded as $236 million.
Big Companies’ Interest in Bitcoin is Increasing
With the bull season this year, cryptocurrencies continue to be on the agenda of the whole world. Giant companies are also trying to enter this market and invest in cryptocurrencies. The purchase of Bitcoin by companies such as Nexon, Grayscale, Tesla, MicroStrategy was interpreted as positive actions in terms of the acceptance and widespread of this sector. The last company to announce the purchase of Bitcoin was MercadoLibre, Latin America’s most famous e-commerce giant. On May 5, they received $7.8 million worth of Bitcoin as part of their strategy. MicroStrategy, one of the leading companies in the world, holding 91,000 BTC worth more than $5 Billion, is an example of these companies.Share this article