- The number of Bitcoin whales reaches an all-time high as Bitcoin nears its 2017 high.
- A Bitcoin whale, according to Glassnode, is defined as a single institution or individual controlling at least 1,000 BTC (~$19,000,000).
As Bitcoin edges near its 2017 high of $20,000, data by Glassnode shows that Bitcoin whales have been on the rise, reaching an all-time high. According to the crypto analytics platform, a Bitcoin whale is defined as a single individual or institution holding at least 1,000 BTC, worth nearly $19 million at the time of press.
Whales Move Millions in Bitcoin
In addition to the rise in Bitcoin whales, massive Bitcoin transactions also seem to be increasing. Many of these transactions carry a notional value of over $100 million.
While these are just some of the larger transactions in the past few days, earlier this month, The Crypto Associate reported a massive Bitcoin transaction totaling nearly $1 billion. While the rise in high-value transactions may not necessarily translate into bullish sentiment it may represent increasing institutional involvement.
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