CryptoQuant: New whale wallets accumulate $1 billion in Bitcoin every day
CryptoQuant, a blockchain analysis platform, stated in its latest weekly report that "large investors are putting in about $1 billion into Bitcoin, which is similar to the situation before Bitcoin rose from $10,000 to $70,000 in 2020. As early as 2020, Bitcoin hovered around $10,000 for six months with high on-chain activity, later revealed to be off-exchange transactions." It further explained, "Now, despite small price fluctuations, on-chain activity remains high, and new whale wallets are increasing their holdings by $1 billion every day, possibly in the form of institutional investors entering custodial wallets to purchase Bitcoin."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
FTX Exec’s Wife Accuses Prosecutors of Misleading Husband in Guilty Plea Deal
Meta Eyes Stablecoin Payments After Crypto Hiatus
Meta plans to integrate stablecoin payments into its apps, marking a return to crypto after three years.Why Meta Is Betting on Stablecoins
Best New Meme Coins to Invest in Now: Troller Cat Set to Jump 20% as Notcoin Holds Ground and Degen Surges
Troller Cat presale surges with ROI projections, while Notcoin and Degen trend in meme coin circles. Learn why these are the best new meme coins to invest in now..Unlocking Massive 69% APY Staking Rewards–Why Troller Cat Is One of the Best New Meme Coins to Invest in NowTelegram’s Favorite Token? Notcoin Climbs as Volume Jumps 13.5%$DEGEN Rally Accelerates With 76% Spike in Daily Trading Activity
DOODUSDT now launched for futures trading and trading bots
Trending news
MoreCrypto prices
More
