😎 Summer Sale Exclusive - Up to 50% off AI-powered stock picks by InvestingProCLAIM SALE

These Small BTC Whales Continue to Buy Bitcoin Aggressively: Report

Published 2023-07-03, 09:32 a/m
© Reuters These Small BTC Whales Continue to Buy Bitcoin Aggressively: Report
BLK
-
BTC/USD
-

U.Today - A report shared by popular on-chain data aggregator Glassnode shows that shrimps (wallets that hold less than 1 BTC) have been aggressively recently.

On a monthly basis, they have been buying more than 33,400 Bitcoins. They have only 130/5,263 (2.5%) trading days recording a larger monthly position change, according to the tweet.

In total, these wallet owners ("shrimps") are holding 1.33 million Bitcoins. This is the equivalent of a whopping $40,707,975,000.

Long-term holder supply of Bitcoin a little short of ATH

Another tweet from Glassnode covers the recent changes in the Long-Term Holder Position Change index. Long-term Bitcoin holders remain "in a regime of gradual accumulation," per Glassnode, as they have added more than 1.01 million Bitcoins overall within the past 602 days, or nearly two years.

Currently, these wallets hold 14.47 million BTC, just 20 BTC short of an all-time high of 14.49 million BTC.

At the time of this writing, BTC is changing hands at $30,620 per coin after showing a mild rise of less than 0.3% within the past 24 hours and a rise of nearly 2% over the past week.The rise to the $30,000 level and then above it occurred on June 20, when news was spread that BlackRock (NYSE:BLK) and several other major fund-managing companies filed applications with the SEC for Bitcoin spot ETFs. Aside from that, Fidelity, together with a few other Wall Street companies, launched a centralized crypto exchange, EDX.

This article was originally published on U.Today

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.