The crypto world is a constantly evolving and changing field. cryptocurrency The ongoing upward momentum in the crypto world has attracted people who were previously hesitant to invest in crypto, especially Bitcoin.
According to data from Santiment, during this last bull market, crypto- whales added 100,000 Bitcoins worth nearly $5 billion in just 10 days observed.
#Bitcoin whales have purchased over 100,000 $BTC in the last ten days, worth around $5 billion! pic.twitter.com/JNWvSRll80
— Ali (@ali_charts) February 15, 2024
NEWS CONTINUES BELOW
Why Are People Investing in Crypto?
This increase in demand for investing in crypto has led to the United States Securities and Exchange Commission (SEC) spot Bitcoin It came shortly after it approved its ETF (Exchange Traded Fund). Before this confirmation, Bitcoin struggled for almost 2 to 3 years. However, following the Bitcoin ETF approval, asset managers are now looking for a spot Ethereum ETF, with filings filed with the SEC.
Examining the latest whale activity in the rapidly developing cryptocurrency industry, it was noted that on February 13, 2024, billionaire and founder of HTX and TRON Justin Sun added 519 Bitcoins worth $25 million. Additionally, Sun has accumulated over $75 million in Bitcoin in the last 2 months.
With the latest withdrawal of 519 Bitcoins, Sun has withdrawn more than 1,676 Bitcoins worth approximately $75 million in the last two months. Data shows that the average price of these Bitcoins is approximately $44,741.
Additionally, on February 15, 2024, another crypto whale was observed accumulating more than 69,500 Ethereum, the second largest cryptocurrency in the world, worth approximately $179 million. However, this significant amount of Ethereum has been accumulated since February 1, 2024 from several giant cryptocurrency exchanges such as Binance, Bybit, and OKEx.
Is It The Right Time To Invest In Crypto?
It seems like this is an opportune time to build a solid portfolio as these giants continue to pile up. One notable trend is that investors and institutional giants are now showing increasing interest in Ethereum alongside other cryptocurrencies, following the filing of spot Ethereum ETF applications by major asset management firms.
Koinfinans.com As we reported, Bitcoin is currently trading around $51,900 and has experienced positive momentum of over 0.07% in the last 24 hours. When Bitcoin is examined over a longer period of time, the Bitcoin price has increased by over 12% in the last 7 days, while it has increased by over 21% in the last 30 days.
