Bitcoin whales have spent the last two months acquiring thousands of coins

26 Feb, 2019 | Updated: 26 Feb, 2019
by Richard Allen
Bitcoin
Bitcoin whales have spent the last two months acquiring thousands of coins

The prolonged depression of the crypto market, which saw major projects lose substantial value, crypto whales have been able to sweep in and accumulate large sums of digital assets.

According to the top 100 rich list for Bitcoin, whale wallets have increased their accumulated holdings with every drop the market has taken since December last year. The latest drop on February 14 was no different and saw whales rake in BTC and BCH as soon as the prices took a dip.

Read more: One fifth of all Bitcoin (BTC) nodes are run from Germany

Excluding the five largest Bitcoin wallets held by Bitfinex, Bitstamp, Huobi and Binance, a solid portion of large wallet holders remains unknown, providing insight into how much influence these whales have over these projects’ prices.

Read more: Who are known Bitcoin whales? 5 famous whales in the cryptocurrency space

As Bitcoin.com reports, the 100 richest addresses currently have between 10,000 and 1,000,000 Bitcoin which equates to 16.18% of all the BTC in circulation. Between December 17, 2018, and February 25, 2019, the five largest wallets belonging to the exchanges increased by 2,879 BTC, about $10.8 million. Comparatively, the remainder of the top 100 whales managed to accumulate 151,505 BTC ($572 million). what’s interesting is that the 14,749 wallets holding between 100 and 1,000 BTC have sold a lot of their coins to much larger holders.

Read more: If I'm not a Bitcoin whale, then what am I?

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Read more about:Bitcoin (BTC)

Poll

Are whales a concern for Bitcoin?

(21 votes)

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the fact that whales have their wallets at bitfinex basically means that it is pretty reliable and trustworthy exchange for higher trading capitals
26 Feb, 2019 - 16:22
I usually look on the whales acts and make a decision about the exchanges. As all the time Bitfinex is used by whales we can be confident about it.
27 Feb, 2019 - 07:41
I am really confident coz whales know what to choose
01 Mar, 2019 - 07:44
moreover, it means that crypto still has a future. top exchanges as bitfinex help it to be true
27 Feb, 2019 - 08:49
whales know what exchange to choose, we can go for it
27 Feb, 2019 - 20:17
i think so as well
08 Mar, 2019 - 15:28
i definitely agree with you! if whales would not trust bitfinex then they would not have kept their funds at the exchange. reliable and safe
08 Mar, 2019 - 15:29
Think that soon they'll sell part of their BTC. And after this traders at Binance and Bitfinex will get their chance to make some money too.
26 Feb, 2019 - 23:40
traders on top exchanges as Binance and Bitfinex are always able to make some money so no matter what whales will do
27 Feb, 2019 - 09:18
I do agree with you. traders are always in a profit on good exchanges
27 Feb, 2019 - 13:23
This means only one thing bull run is near. Almost all big and popular exchanges like Binance, Kraken and Bitfinex has become more alive recently.
27 Feb, 2019 - 23:15
I hope to get profit on binance and bitfinex. this bull run should be of profit
27 Feb, 2019 - 23:29
agreed every your word. whales are needed for crypto now. they choose best way and we should follow them
01 Mar, 2019 - 09:35
it's very good that whales are still in crypto. It might mean prospects
01 Mar, 2019 - 10:03
of course prospects! whales support crypto with the top exchanges as kraken and bitfinex
12 Mar, 2019 - 07:49
very good said. it is true . top exchanges are in great demand
14 Mar, 2019 - 06:26
that's okay if bitfinex and binance are used for money transfers
04 Mar, 2019 - 21:15
especially by whales!
05 Mar, 2019 - 08:47
whales have chosen the top reliable exchanges. nice to see bitfinex among them
12 Mar, 2019 - 07:04
yeah, of course. bitfinex keeps its level
19 Mar, 2019 - 01:10
more whales - more bitcoins - more development.
whales has chosen besttter echanges bitfinex and binance
15 Mar, 2019 - 07:50
that is good, helps top exchanges to be alive even in the hard months
19 Mar, 2019 - 08:16
these two month are very important for crypto itself and the development as well.
it is a pleasure to see top exchanges which were used by bitfinex
21 Mar, 2019 - 01:02
whales on bitfinex? nothing new
21 Mar, 2019 - 03:00
yeah, as usual. whales choose only good exchanges
22 Mar, 2019 - 09:27
thouands of coins to the top exchanges?
now I see why bitfinex and kraken have such volumes
22 Mar, 2019 - 18:39

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