In the last few months, approximately 1 trillion dollar washed away from the crypto market. The market declining after reaching to all time high of 3 trillion dollar market cap.
Bitcoin saw dipped more than 13% in value over the past week, all the altcoin also dipped more than 20%, but the third-largest Bitcoin holder hasn’t shied away from buying the dip and added another 551 Bitcoin BTC to there wallet surpassing MicroStrategy’s Bitcoin holding.
This #whale wallet had rivaled Saylor's #Bitcoin holdings for months. It started buying #BTC after the drop from $69k to $63k, and bought every dip down to $36k
Thanks to smart dip buying instead of lump sum, the whale put in $2.76B & bought more BTC than Saylor did with $3.75B.
— venturefoundΞr (@venturefounder) January 25, 2022
The whale bought 551 Bitcoins at an average price of $45,219 taking the total Bitcoin holding to BTC 124,485, which is now more than what Michael Saylor’s MicroStrategy holdings, at BTC 124,391.
The whale has been accumulating the digital gold Bitcoin at every opportunity lately, making the most of the recent dips in price. The whale added 328 Bitcoins, worth almost $12 million on January 22, followed by another 160 Bitcoins on January 25 worth close to $6 million.
According to MicroStrategy’s announcement in December when the company revealed that it had purchased 1,914 Bitcoin with an average price of approximately $30,159. On the other hand, the third-largest whale has a cost basis of about $22,000 per Bitcoin and sits on a profit of about $1.75 billion.
? #Bitcoin $BTC Number of Addresses Holding 100+ Coins just reached a 3-month low of 15,923
Previous 3-month low of 15,931 was observed on 22 January 2022
View metric:https://t.co/ceqO9LHIvs pic.twitter.com/fyemofZOBf
— glassnode alerts (@glassnodealerts) January 24, 2022
According to on-chain data provided by Glassnode analytical service, the number of large Bitcoin addresses on the network has reached a three-month low, reaching a value that is currently comparable to September 2021 levels.
The number of unique addresses that are holding 100 or more coins has dropped to October levels, which indicates that the majority of the market is no longer willing to counter-trade the asset and join the bear market.
Read More:
- El Salvador Buys 21 Bitcoins on 21st Day of 21st Year of 21st Century
- El Salvador Bought Additional 410 Bitcoins Worth $15 Million
- El Salvador plans to build the world’s first “Bitcoin City”, funded by bitcoin
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