• Bitcoin whales have splurged over $750 million on the king crypto in the last three months.
• Market intelligence firm Santiment reveals that deep-pocketed investors have ramped up their activity since May, pushing total BTC owned to 11.5 million.
• Wrapped Bitcoin (wBTC) is seeing major activity with its on-chain transaction volume at its highest level in over a month.
Bitcoin Whales Splurge Over $750 Million
New data from market intelligence firm Santiment reveals that deep-pocketed Bitcoin (BTC) investors have splurged over $750 million on the king crypto during the last three months. This pushes the total amount of BTC owned up to 11.5 million, which is over half of BTC’s overall supply.
Bitcoin Millionaires and Billionaires Ramp Up Activity
Santiment notes that there are currently 15,870 Bitcoin addresses that hold at least 100 BTC collectively. Over the past 12 weeks, their collective share has risen by 27,755 BTC as whale activity continues to increase.
Wrapped Bitcoin Sees Major Activity
Wrapped Bitcoin (wBTC) is also seeing major activity with its on-chain transaction volume at its highest level in over a month according to Santiment’s data. This suggests a drop in exchange supply as high-net-worth traders move away from crypto exchange platforms and into wBTC wallets instead.
Price of Bitcoin
At time of writing, Bitcoin is trading for $29,280, a fractional decrease during the last 24 hours.
Conclusion
Overall, these new insights suggest an increase in whale activity as affluent traders continue to accumulate more and more bitcoin despite minor price fluctuations throughout recent months