Bitcoin Whales Now Own 49% of Total BTC in Circulation
Reports show that Bitcoin (BTC) whales have expanded their BTC holdings over the past few weeks, despite the unrelenting market volatility. According to a recent report by Santiment, an on-chain crypto analytics company, large BTC addresses (holding between 100 and 10,000 coins) now control about 9.13 million BTC, about 49% of the total supply. Santiment noted that:
“Our heavily touted price-leading Bitcoin whale holder tier have continued their accumulation in July. BTC addresses holding between 100 to 10,000 BTC now own 9.13M coins once again, their highest mark since April 14th. This is 48.7% of the total supply.”
However, BTC network activity has remained at low levels since May, despite the massive accumulation by whales. According to Glassnode, a behemoth digital assets investment firm, the…
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