The number of addresses holding more than a thousand Bitcoin has surged in April as whales continue to accumulate. More than 60 new wallets holding over 1,000 Bitcoin (BTC) have appeared since early March, a signal of increasing whale activity. The number of these whale wallets has increased from 2,037 in late February to hit a four-month high of 2,107 on April 15, according to Glassnode. This has returned the metric to levels seen in two spikes in whale addresses in November and December, when crypto markets were surging following the election of US President Donald Trump. The all-time high for Bitcoin whale addresses was in February 2021, when it came just short of 2,500.
However, smaller holders with less than 10 coins have been in decline over the past few months. Whales continue stackingOn April 18, Cointelegraph reported that Bitcoin whales were absorbing the asset at record rates of over 300% of the yearly issuance while exchange balances were falling. Bitcoin whales holding over 10,000 coins remain in strong accumulation territory as the dip buying continues, according to Glassnode. “Whales are accumulating massive amounts of Bitcoin, they know what comes next,” said Bitcoin trader ‘Mister Crypto’ on April 20.
Source: Glassnode The number of addresses holding over 100 BTC has also climbed marginally this year, reaching 18,026 on April 20, according to Glassnode.
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Author / Journalist: Cointelegraph by Martin Young
The story "Bitcoin whales, pundits continued to stack throughout April, data shows" has 356 words across 17 sentences, which will take approximately 2 - 3 minutes for the average person to read.
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