• About Us
  • Privacy Policy
  • Contact Us
Subscribe
Lascena
Advertisement
  • Home
  • Bitcoin
  • Cryptocurrency
    • Altcoin
    • Litecoin
    • Ethereum
  • Blockchain
  • Regulation
  • Market
  • Prices 2021LIVE
  • Videos
No Result
View All Result
  • Home
  • Bitcoin
  • Cryptocurrency
    • Altcoin
    • Litecoin
    • Ethereum
  • Blockchain
  • Regulation
  • Market
  • Prices 2021LIVE
  • Videos
No Result
View All Result
Lascena
No Result
View All Result

Number of People Holding Lots of Bitcoin Surges in Rare ‘Whale-Spawning Season’

December 31, 2020
in Market
Reading Time: 2min read
Number of People Holding Lots of Bitcoin Surges in Rare ‘Whale-Spawning Season’


Large investors continue to accumulate bitcoin, possibly putting upward pressure on the cryptocurrency’s price.

The number of whale entities – clusters of crypto wallet addresses held by a single network participant holding at least 1,000 bitcoin – rose to a new record high of 1,994 on Wednesday. The previous peak of 1,969 reached in 2016 was surpassed on Dec. 18, according to data source Glassnode.

The metric has increased by over 16% this year and 7.3% this quarter alone. Bitcoin’s price has rallied by over 300% in 2020 and 160% in the Oct-December period. At press time, the leading cryptocurrency is changing hands at over $28,800 per bitcoin, after reaching an all-time high of $29,280 on Wednesday, as per CoinDesk 20 data.

“We have just entered a rare whale-spawning season, with ultra-high net worth and institutions recognizing the last call to build significant stores of Bitcoin,” Jehan Chu, co-founder and managing partner at Hong Kong-based trading firm Keneti Capital, told CoinDesk. “The final land grab has started, and by this time next year, accumulating >1,000 Bitcoin will be nearly impossible for most people.”

The steep rise in whale entities’ population validates the popular narrative that increased participation by large investors has fueled the cryptocurrency’s rally.

According to Sumit Gupta, CEO and co-founder of CoinDCX, the data shows the cryptocurrency is going through a shift from being a speculative asset to a macro investment asset, and that switch is mainly being driven by the increasing acceptance from global institutions as well as investors, from around the world.

JPMorgan analysts say the recent bitcoin purchases by Massachusetts Mutual Life Insurance Co indicate growing mainstream adoption and could have a bearing on gold in the long run.



Source link

Facebook0
Twitter0
Linkedin0
Print0
E-mail0
Yahoo Mail0
GMail0
SMS0
Messenger0
Tags: BitcoinholdingLotsNumberPeoplerareSeasonSurgesWhaleSpawning
Next Post
EToro USA Becomes Latest Exchange to Suspend XRP Trading

EToro USA Becomes Latest Exchange to Suspend XRP Trading

Polkadot surges 67% in the past week—what’s behind DOT’s rally?

Polkadot surges 67% in the past week—what's behind DOT's rally?

Don't Miss

75% surveyed say “No” to Bitcoin in “Money Saving Expert” poll
Bitcoin

75% surveyed say “No” to Bitcoin in “Money Saving Expert” poll

by Lascena Cryptocurrency News Education
February 26, 2021
0

Martin Lewis, the self-styled “Money Saving Expert” and champion of consumer affairs for the British public, held a poll...

Read more
A $40,000 Bitcoin Likely as Price Breaks Critical Support Zone

A $40,000 Bitcoin Likely as Price Breaks Critical Support Zone

February 26, 2021
Richly Valued Bitcoin Extends Decline After Positive Jobs Data

Richly Valued Bitcoin Extends Decline After Positive Jobs Data

February 26, 2021
BITCOIN TO $50,000 – THE FEDERAL RESERVE GUARANTEES IT!!! Price Prediction – Crypto News 2020

BITCOIN TO $50,000 – THE FEDERAL RESERVE GUARANTEES IT!!! Price Prediction – Crypto News 2020

February 26, 2021
Ripple XRP ”It’s All Over We Can’t Save It!” | Robert Kiyosaki

Ripple XRP ”It’s All Over We Can’t Save It!” | Robert Kiyosaki

February 26, 2021

Lascena Cryptocurrency News Education

We have all the latest updated and legitimate information related to Blockchain, Cryptocurrency, latest market rates & trends, prices, new regulations along with every other thing that somehow related to crypto or digital currency market. Our main idea is to provide the kind of news that is original and at the same time, it can prove to be beneficial for our audience.

© 2020 lascena.ca

  • About Us
  • Privacy Policy
  • Contact Us
No Result
View All Result
  • Home
  • Bitcoin
  • Cryptocurrency
    • Altcoin
    • Litecoin
    • Ethereum
  • Blockchain
  • Regulation
  • Market
  • Prices 2021
  • Videos

© 2020 lascena.ca

  • bitcoinBitcoin(BTC)$46,523.00-10.15%
  • ethereumEthereum(ETH)$1,470.01-11.49%
  • cardanoCardano(ADA)$1.101.85%
  • tetherTether(USDT)$1.00-1.45%
  • Binance CoinBinance Coin(BNB)$226.03-13.19%
  • PolkadotPolkadot(DOT)$30.35-13.01%
  • rippleXRP(XRP)$0.431491-10.03%
  • litecoinLitecoin(LTC)$171.21-15.55%
  • chainlinkChainlink(LINK)$25.22-11.56%
  • bitcoin-cashBitcoin Cash(BCH)$480.88-12.63%