Bitcoin Whales Take a Break: Transactions of $10M+ Drop 19%

• According to the on-chain analytics firm Glassnode, large Bitcoin transactions of more than $10 million now account for only 19% of the total volume, down from 42.8% at the start of November 2022.
• The “relative transfer volume breakdown by size” indicator shows what part of the BTC volume is being contributed by the different-sized transaction groups in the market.
• The dominance of the transaction group with transfers valued higher than $10 million has significantly fallen in recent weeks, indicating that Bitcoin whales have been inactive recently.

Bitcoin has been one of the biggest and most successful investments of the past decade, with its value skyrocketing over the years. With the rise in popularity of Bitcoin and other cryptocurrencies, many people are buying, selling, and trading digital assets. However, one group of investors, known as “whales”, have been particularly active in the cryptocurrency markets. Whales are investors who own large amounts of cryptocurrency and have the power to move markets due to their size.

Recently, however, data from the on-chain analytics firm Glassnode indicates that the activity of Bitcoin whales has been declining. According to the firm, transactions of more than $10 million now account for only 19% of the total volume, down from 42.8% at the start of November 2022. The “relative transfer volume breakdown by size” indicator also shows that the dominance of the transaction group with transfers valued higher than $10 million has significantly fallen in recent weeks.

This decrease in activity may be due to a variety of factors, such as whales taking a break from trading due to the volatile markets, or the whales simply taking a more conservative approach with their investments. It is also possible that the whales are simply waiting for the market to become more stable before they start trading again.

The decrease in activity from the whales may have a significant impact on the cryptocurrency market. With the whales out of the picture, other investors may have more control over the markets and be able to influence the prices of cryptocurrencies in a positive way. This could be beneficial for the whole cryptocurrency market, as the increased activity from other investors could lead to more liquidity and greater stability.

Overall, the decrease in activity from Bitcoin whales is something that investors should be aware of. While it is difficult to predict what will happen in the future, it is important to keep an eye on the activity of whales and other large investors, as their moves can have a major impact on the cryptocurrency markets.

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