crypto analytics firm centimenthas found that mega Bitcoin (BTC) whales have been accumulating Bitcoin (BTC) since the end of 2021.
Posting on Twitter, the company found that in the seven weeks since Dec. 23, “mega” whale addresses holding 1,000 or more BTC have added a total of 220,000 Bitcoins, or more than 1% of the total supply of BTC.
The analytics firm says it’s the biggest mega since September 2019. Bitcoin whale He also stated that he had a collection.
Bitcoin (BTC), trading at $43,753 at the time of writing. The top-ranked crypto-asset by market cap is up more than 18.5% from its value seven days ago.
Santiment believes that waves of Covid-19 fears have had negative effects on Bitcoin price over the past two years. But the analytics firm also argues that these fears are showing signs of bearishness.
Santiment also says that stablecoin Tether (USDT) has had less network activity lately, another potential bullish indicator for Bitcoin.
“The amount of daily active addresses on Tether’s network has quietly dropped to two-year lows, and Bitcoin plummeted after hitting an all-time high in mid-November. Historically, we’ve seen less overlapping of stablecoin transactions after BTC spikes.”
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