• Bitcoin (BTC) investors have splurged over $750 million on the king crypto within the last three months.
• There are currently 15,870 Bitcoin addresses that hold at least 100 BTC, collectively owning 11.5 million BTC, making up over half of the total existing supply.
• Wrapped Bitcoin (wBTC) is seeing major activity today as high-net-worth traders move the digital asset out of crypto exchange platforms.
Bitcoin Whales Splurge Over $750 Million in Just Three Months
Crypto analytics firm Santiment has revealed that deep-pocketed Bitcoin (BTC) investors have splurged over $750 million on the king crypto during the last three months.
High Number of BTC Addresses Owning Over Half of Total Supply
Data from Santiment shows that there are currently 15,870 Bitcoin addresses that hold at least 100 BTC, collectively owning 11.5 million BTC, making up over half of the total existing supply (59.2%). In addition, these whales have increased their collective share by 27,755 BTC in just 12 weeks.
Major Activity Around Wrapped Bitcoin (wBTC)
The crypto analytics platform also noted a major spike in activity around Wrapped Bitcoin (wBTC). On-chain transaction volume for wBTC is at its highest level in over a month as high-net-worth traders move it out of crypto exchange platforms.
Current Price Action for Bitcoin
At time of writing, Bitcoin is trading for $29,280 – a fractional decrease during the last 24 hours.
Conclusion
Overall, with large accumulations from whales and major activity around wBTC occurring simultaneously this summer season could bring about some exciting price action for bitcoin moving forward.