Bitcoin whales have accelerated accumulation of BTC during the last few weeks amid price volatility. According to the latest data published by Santiment, a blockchain tracking and analytics firm, large Bitcoin addresses have added approximately 90,000 BTC since 5 April. Santiment defines the BTC whale address as a crypto wallet with more than 10,000 Bitcoin. The blockchain analytic firm mentioned that whales have started accumulating in large amounts, particularly after BTC’s all-time high on 14 April.
Bitcoin whales have added around $4.92 billion worth of BTC recently.
The total value of the recently accumulated Bitcoin stands at around $4.92 billion. The world’s leading cryptocurrency saw a volatile April as the price touched $64,000 on 14 April but dropped to a low of $47,000 on 26 April. As of writing, Bitcoin is trading near $54,400 with a market cap of more than $1.02 trillion. The uber large Bitcoin whale addresses continue to get richer and accumulate as prices range, particularly after the All-Time High two weeks ago. Around 90,000 BTC worth $4.92 billion has been added in total to these addresses since 5 April,” Santiment mentioned.
“More than 1.9 million BTC moved above the $1 trillion market cap.”
The latest price volatility has accelerated unknown crypto transactions from BTC whales. According to Whale Alert, an unknown crypto user moved 7,175 Bitcoin worth approximately $392 million on 29 April. BTC whale activity above the $1 trillion market cap has surged significantly. Crypto analytics firm Glassnode reported earlier this month about a jump in Bitcoin transactions above the $1 trillion market cap. The analytic firm added that more than 1.9 million BTC moved above the $1 trillion market cap, including movement in some of the large BTC addresses. Whale addresses are also moving the bitcoin in large amounts, from leading digital exchanges to crypto wallets.