Bitcoin
Bitcoin Whales Devour Over 47,000 BTC Worth $2,967,768,000 in Just 24 Hours Amid ‘New Era’: CryptoQuant CEO
The chief executive of blockchain intelligence platform CryptoQuant says Bitcoin (Bitcoin) whales snapped up nearly $3 billion from the crypto king in just 24 hours.
CryptoQuant CEO Ki Young Ju it says its 345,000 followers on social media platform X that deep-pocketed investors gobbled up tens of thousands of BTC in just one day, signaling the approach of a new era.
“Bitcoin whales have accumulated 47,000 BTC in the last 24 hours. We are entering a new era.”
Source: Ki Young Ju/X
To obtain these results, Ju used CryptoQuant search filters to find whales of the leading crypto asset by market cap that to hold at least 100 BTC, have had a transaction within a 24-hour period and do not qualify as a centralized exchange (CEX) or miner wallet.
Ju continues observation that the recent surge in whale activity around Bitcoin is not related to BTC exchange-traded funds (ETFs), which were approved by the U.S. Securities and Exchange Commission (SEC) in January.
Last month, Ju he said that newer crypto whales – or investors who CryptoQuant defines as holding at least 1,000 Bitcoins with an average coin age of less than 155 days – have accumulated nearly twice as much BTC as their long-term holding counterparts.
Long-term holding whales own at least 1,000 Bitcoins with an average coin age of 155 days or more
At the time, Ju said that old BTC tokens were being transferred to new holders after Bitcoin’s average dormancy rate recently reached a 13-year high.
Bitcoin is trading for $63,582 at the time of writing, an increase of 2.86% during the last 24 hours.
Don’t miss a beat – Subscribe to receive email alerts directly to your inbox
To check Price Action
Follow us on X, Facebook It is Telegram
To surf Hodl’s daily mix
 
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investment in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Image generated: middle of the journey