As Bitcoin’s Price Spikes Pods of BTC Whales Begin to Shrink in Size
Recent metrics from a variety of analytical web portals show that the quantity of bitcoin whales has been shrinking in recent times. The data indicates that the leading crypto asset has been distributed quite a bit since the price run-up started. Pods of Bitcoin Whales Shrink — Addresses With Small Quantities of Bitcoin Catch the Downward Distribution Cycle Today, data shows that bitcoin whales are shrinking and metrics from bitinfocharts.com’s top 100 richest bitcoin addresses list compared to a whale count article Bitcoin.com News published on May 14, show....
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Data suggest Bitcoin’s price drops at each new all-time high are the result of “mega whales” selling into liquidity. Bitcoin price has re-established the $40,000 level as support but as bull push toward a new all-time high the possibility of another sharp sell-off looms.According to analysts at Material Indicators, a crypto analytics company, mega-whales sold off steeply when Bitcoin hit $40,000 on Jan. 7. This led to a quick 10% drop to the $36,000 area over the next few hours.The dip was quickly bought up, eventually pushing the price above $41,000 in the next 12 hours. However, BTC saw....
Amid continued highs in trading and price, Bitcoin’s transaction backlog is giving out warning signs of a network already at capacity. Data from Blockchain.info uploaded to Twitter by Chain engineer Tony Arcieri showed constant spikes in the Bitcoin mempool, the vat of unprocessed transactions waiting for confirmation. “The Bitcoin mempool, a buffer of unprocessed transactions, has been flaring up a lot now that the system is at capacity, only 4tps average,” Arcieri commented. Notably, the size of such transactions peaked around Feb. 23 at just under 75 mln bytes, before coming down....
Last month, prompted by his inability to raise the block size limit from 1MB to 2MB, Bitcoin Core developer, Mike Hearn, abandoned Bitcoin altogether and declared the cryptocurrency to be a failed experiment. The price of Bitcoin quickly fell from about $420 per coin to slightly above $360, and now has re-stabilized close to its original price before Hearn’s article. Bitcoin and altcoin prices less correlated. CoinTelegraph spoke to representatives of several other cryptocurrencies to gauge if they had been affected by the challenges Bitcoin, the cryptocurrency standard bearer, has been....
Bitcoin price spikes continue as data reveals exchange activity is anything but flat this week. Bitcoin (BTC) whales are moving large amounts of coins to exchanges in tandem with large outflows, curious new data shows. According to the exchange whale ratio indicator from on-chain analytics firm CryptoQuant, large transactions have accounted for over 90% of recent exchange deposits.Top 10 deposits make up 90% of exchange inflowsIn a marked change from previous behavior, over the past week, whales have become much more active prospective sellers on exchanges.The exchange whale ratio, which....
Bitcoin whales have become active once again. While whale activity is normal and to be expected, the rate at which they purchase and accumulate coins can point to further movement in the market. Given that these investors control a large enough volume to affect the price of bitcoin, watching their every move can be beneficial as shown bypass data. When whales begin moving BTC in large volumes, it can either signal a market dump or pump. In the same vein, it can also who how big money is dealing with the digital asset. These addresses which hold 1,000 or more bitcoin on their balance have....