The biggest holders of Bitcoin can't have enough. “Demand growth” from whales is stronger than ever, according to a new study from cryptocurrency data firm CryptoQuant.
In other words, the investor who owns the most assets is Bitcoin (BTC) I want orange coins more than ever.
bitcoin whale They are investors who hoard huge amounts of Bitcoin (at least 1,000 BTC, or at least $69 million at today's prices) and don't touch Bitcoin for years. Such investors end up making big profits, but whales are more likely to do so. Companies and institutional investors, not individuals.
“Currently, demand growth from this group of investors is at an all-time high,” CryptoQuant said, adding that in the past, demand growth from large investors led to higher prices.
CryptoQuant added that demand from “permanent holders” is outpacing new Bitcoin generation for the first time in history, and this is likely to lead to an increase in Bitcoin’s price. cut in half this month.
The halving is scheduled to take place next week and is a once-every-four-year event where Bitcoin miners' rewards are cut in half. This is expected to further increase the scarcity of coins on the market.
Some analysts say that will result in asset prices rising, especially when coupled with the inflows associated with the introduction of the hugely popular Bitcoin spot exchange-traded fund (ETF).
“Demand is growing much faster this year thanks to ETFs,” a CryptoQuant spokesperson said. Decryption. “These whales include new whales, old whales, and even ETFs.”
of bitcoin price It is currently trading at $69,316 per coin, hitting a new all-time high of nearly $74,000 last month. At the beginning of this year, the price of BTC was below $45,000.
Edited by Ryan Ozawa.
