Whales Accumulate $197 Million in Bitcoin

Whenever anything happens in the Bitcoin market there is only one answer for that “This is Whales Game”. Crypto whales are they really playing with the market or it is just a myth?

Who are Crypto Whales?

A trader becomes a crypto whale when he accumulates enough coins to control the market to some extent. A whale has different definitions for different coins. We can say a person holding 10 percent of the total supply of an altcoin (that may worth only 5 Bitcoins) is called a Whale of that particular coin.

For Bitcoin, it is quite impossible to accumulate 10 percent of the total supply by a single person. The total circulating supply of Bitcoin is 17.6 Million and to hold 10 percent he needs 1.7 Million BTC. The largest Bitcoin wallet is known to hold 1 Million BTC and remain dormant for a long time.

Many crypto lovers believe that the wallet belongs to Satoshi Nakamoto (the creator of Bitcoin).

The Bitcoin market has seen a sudden pump that changes the sentiments of the market. The cryptocurrency gains more than 20 percent in a night. More than $40 Billion was added in just 2 days. The crypto market is facing the longest bear market (15 months) in Bitcoin history. Maybe the bear market is now over.

Bitcoin Whales are able to accumulate $197 Million in BTC in the past 24-hours. The largest transactions among these have $46.8 Million (9437 BTC) was sent from Bitfinex to an anonymous wallet. This has two meanings, First the whales are not looking to sell more Bitcoins and Second they are able to buy that much of coins from weak hands.

Here is Short Summary of Some Transactions:

If you want to check the whole list you can have a look here.

The number of active Bitcoin wallets is increased before two weeks of the pump. This is very interesting to find, how the whales signal each other about what’s happening.

Also Read: Bitcoin Searches Have Tripled After the Pump – Google Report