In just a span of 24 hours, Bitcoin whales have made a significant move by purchasing nearly $3 billion worth of the cryptocurrency, according to Ki Young Ju, the CEO of blockchain intelligence platform CryptoQuant. Ju took to the social media platform X to share this news with his 345,000 followers, emphasizing that this influx of deep-pocketed investors signals the dawn of a new era.
To arrive at these findings, Ju utilized CryptoQuant’s search filters to identify whales of the top cryptocurrency by market capitalization. These whales were required to hold a minimum of 100 BTC, have engaged in a transaction within the past 24 hours, and not qualify as a centralized exchange or miner wallet.
Ju further clarifies that this recent surge in whale activity surrounding Bitcoin is unrelated to the approval of BTC exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) in January.
In a previous statement, Ju revealed that newer crypto whales, defined as investors holding at least 1,000 Bitcoin with an average coin age of less than 155 days, had accumulated nearly twice as much BTC as their long-term holder counterparts. Long-term holder whales, on the other hand, are those who hold at least 1,000 Bitcoin with an average coin age of 155 days or more. This shift in ownership occurred as old BTC tokens were transferred to new holders following a 13-year peak in Bitcoin’s average dormancy rate.
As of now, Bitcoin is trading at $63,582, representing a 2.86% increase in the past 24 hours.
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