As estimated by the behavior analytics platform Santiment, Bitcoin sharks and whales (those addresses holding between 10 to 10,000 BTC) now own over 66% of the circulating supply of the primary cryptocurrency.
This is the highest level recorded in 2023 so far, as those investors have been particularly active after BlackRock filed to launch a spot BTC ETF in the United States.
BTC and USDT Whales are Accumulating Again
Santiment revealed that the latest purchasing efforts displayed by Bitcoin sharks and whales started on September 28 when the cryptocurrency market showed signs of serious revival.
Per CoinGecko’s data, the price of the leading digital asset is up 2.5% in the past 24 hours, while the second-largest cryptocurrency by market capitalization – Ether (ETH) – has charted gains of approximately 4%.
The platform also estimated that Tether sharks and whales have also splashed the water. They have accumulated “buying power” and currently hold 15.03B total coins, which
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