Bitcoin gained the attention of not just individual users, but also of institutional investors on Wall Street. The bear market of 2018 brought the price of Bitcoin down from $20,000 to $3,122, affording many Bitcoin wallets the opportunity to accumulate the coins.
According to data obtained from BitInfo charts, the largest Bitcoin wallets are exchange-owned. The richest Bitcoin wallet belongs to Bittrex, followed by Bitfinex, Bitstamp, Huobi and Binance. The balance in these wallets in December 2018 was cumulatively 571,079 BTC. However, over the last two months, their cumulative balance grew massively by 2,879 BTC, which is worth over $11.01 million, at press time.
The next 101 wallets together have a balance of 2,292,153 BTC, which is equivalent to 13.05% of the total coins in circulation. In December 2018, these wallets had 2,114,141 BTC, an increase of 178,012 BTC over two months.
In light of the rumors that Bitcoin has bottomed, many have now started to accumulate coins and hold heavy wallets.
In addition to the above, Weiss Ratings tweeted,
“100 largest #BTC wallets (not counting exchanges) have accumulated over 150k worth of #bitcoin during the last 60 days. They did this most likely to sell at peak and then buy back in at the lower price. Good for them.”
However, the non-exchange wallets, which belong to individuals, have also begun accumulating BTC in the hope of a bull run soon in the offing.
At press time, BTC was priced at $3,880 after it slipped from the $4,000 mark. Bitcoin dominance over the cryptocurrencies is at 52.2%, indicating that Bitcoin is growing stronger with each rally.
@coupleofcrypto, a Twitter user commented,
“I see positive and negative analysis on this. To me whales becoming bigger whales is not good => more manipulation power. At same time whales will want a bull run just as anyone, so we all profit when they decide to kick-start it. I hope volume will be strong enough to last long.”
Subscribe to AMBCrypto’s Newsletter
Small victory for iFinex, Monero responds to Reuters report and more
Crypto News – 23 May – Small victory for iFinex, Monero responds to Reuters report and more
— AMBCrypto (@CryptoAmb) May 23, 2019
Crypto News – 23 May
Another banks drops crypto-project: After Dutch multinational bank, ABN AMRO, Rabobank announced that it is dropping plans to launch its own crypto-project
Read more at https://bit.ly/2HN7l1P
SCB Thailand on XRP adoption: Thailand’s Siam Commercial Bank asked users to remain patient and wait for an announcement about integrating and adopting XRP for transfers
Read more at https://bit.ly/2YK3Lws
Mark Yusko on Bitcoin: Morgan Creek Capital’s Chief Investment Officer is in the news after he claimed that owning Bitcoin was a great way to diversify one’s portfolio
Read more at https://bit.ly/2Eukv2O
Binance Coin on adoption spree: BNB can now be traded on Tesla using two wallets
Read more at https://bit.ly/2YJn5cY
Binance Research on Facebook: New research by Binance claimed that the entry of Facebook in the cryptocurrency market will define market’s future growth drivers
Read more at https://bit.ly/2VKx8N1
Binance’s IEO performance: Binance led the IEO performance charts as new data revealed that the exchange’s Launchpad token sales outpaced competing platforms
Read more at https://bit.ly/2JX9gUg
Subscribe to AMBCrypto’s Newsletter
Montana State makes a move in favor of crypto-space as the law recognizes utility tokens as not securities
Binance CEO CZ accused of causing ‘pump and dump’ by prominent trader after being blocked on Twitter
Ethereum [ETH] and Tron [TRX] Price Analysis: Coins suffer as bears push bulls aside
Bitcoin [BTC]: Strongest reason for price rise is evolution of different players coming in, says ErisX CEO
HitBTC insolvency brought into question as new research points to red flags
Tron [TRX] announces future trading on OKEx platform from May 20
Bitcoin’s [BTC] Lightning Network is awesome, says Blockstream’s Samson Mow
Crypto is replacing the US Dollar and no one seems to be noticing, claims prominent investor Robert Kiyosaki
Coinbase extends XRP trading access to New York users; coin pumps by 22%
Litecoin [LTC] bought at $100k on Binance when coin was trading at $90
XRP/Ripple: R3’s Corda to further partnership with credit-union centric CULedger
Bitcoin? Bitcoin Cash? Bitcoin Satoshi’s Vision? Will the real Bitcoin please stand up?
Bitcoin SV drops by a massive 24% in an hour after Bitcoin whitepaper patent backlash
Ripple executive elected to United States Faster Payment Council’s Board of Directors