Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
CryptoQuant: New whale wallets accumulate $1 billion in Bitcoin every day

CryptoQuant: New whale wallets accumulate $1 billion in Bitcoin every day

CointimeCointime2024/06/06 08:49
By:Cointime

CryptoQuant, a blockchain analysis platform, stated in its latest weekly report that "large investors are putting in about $1 billion into Bitcoin, which is similar to the situation before Bitcoin rose from $10,000 to $70,000 in 2020. As early as 2020, Bitcoin hovered around $10,000 for six months with high on-chain activity, later revealed to be off-exchange transactions." It further explained, "Now, despite small price fluctuations, on-chain activity remains high, and new whale wallets are increasing their holdings by $1 billion every day, possibly in the form of institutional investors entering custodial wallets to purchase Bitcoin."

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Stocks stay on recovery path amid tariff risks, disappointing data

The S&P 500 was mostly flat after a month of losses, and the Nasdaq has been slowly gaining

Blockworks2025/03/25 22:44

Amnis Finance Airdrop Enhances NFT, Staker Benefits

Bitcoininfonews2025/03/25 22:44
Amnis Finance Airdrop Enhances NFT, Staker Benefits