The Decline of Bitcoins at Whale Addresses. The number of bitcoins owned by whales has decreased since May 30 to 255,000 BTC.
25 Jul 2023, 15:56
The Decline of Bitcoins at Whale Addresses
The number of bitcoins owned by whales has decreased since May 30 to 255,000 BTC. This was the conclusion reached by Glassnode analysts.
The rate of decline in the metric for the month became a record in history - 148,000 BTC. However, it should be noted that whales transferred 255,000 BTC to exchange addresses in the last 30 days. Thus, the net reduction of large market participants decreased by only 8,700 BTC.
During the recent rally, there was a jump in bitcoin receipts from whales to centralized platforms (16,300 BTC per day). The share of whales in the total mass of deposits to exchanges reached 41%. And this exceeded the levels during the Terra collapse (39%) and the FTX crash (33%).
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