The number of "whales" (large Bitcoin owners) has reached 18,000, driven by recent growth in the price of Bitcoin, according to data provided by analysis firm Glassnode.
According to experts, all accounts with a balance of more than $1M in Bitcoins are considered whales. Analysts say the number of whales has registered a spectacular growth of 38%, a new historical maximum after the one registered back in mid 2019. This rise in the number of large Bitcoin owners has coincided with the BTC rally, which is currently trading above $ 11,000.
Experts believe the rise in the number of whales is due to the increase in the dollar value of their assets.
In addition, Glassnode's data shows cryptocurrency exchanges have received a greater inflow of assets from miners, especially over the past 24 hours.
ByteTree also reported miners mined 6,556 BTCs during the past week and sold 7,060 BTCs, more than they have mined. This is not a surprise, as it is the first time in a year they can sell the crypto above $11,000. However, the fact they are selling their currencies is not enough per se to make BTC price fall.
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