New crypto whales are buying up Bitcoin (BTC) at a faster rate than longer-term holders, according to the chief executive of the blockchain analytics platform CryptoQuant.
Ki Young Ju taʻu mai his 343,900 followers on the social media platform X that the new whales’ initial investment in Bitcoin is almost twice the old whales’ cumulative total.
The analytics platform executive faʻamatalaina “new,” short-term holder whales as addresses with at least 1,000 Bitcoin with an average coin age of less than 155 days. “Old,” long-term holder whales hold at least 1,000 Bitcoin with an average coin age of 155 days or more. Young Ju excludes miner and centralized exchange addresses for both.
O le CryptoQuant CEO foi faamatalaga that BTC’s average dormancy recently hit a 13-year peak, which he says indicates a transfer of old Bitcoins to new holders.
“The cap table for Bitcoin is shifting, potentially altering the ownership landscape. Who are the new major shareholders?”
Young Ju foi iloiloga unrealized BTC profit in the current market cycle.
“Bitcoin Unrealized Profits for On-Chain Cohorts:
- Old whales: +223%
- New whales (TradFi/ETFs [exchange-traded funds]): +1.6%
- Small miners: +131%
- Big miners (Mining companies): +81%
Not enough profit to end this cycle, in my opinion.”
Bitcoin o loʻo fefaʻatauaʻi i le $ 64,222 i le taimi o le tusitusi. O le aseta crypto pito i luga i luga o maketi maketi ua paʻu i lalo e sili atu i le 3% i le 24 itula talu ai ae sili atu nai lo le 5% i le fitu aso talu ai.
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Source: https://dailyhodl.com/2024/04/25/new-bitcoin-whales-have-already-nearly-double-the-size-of-old-large-btc-owner-holdings-cryptoquant/