Times are looking positive in the Cryptocurrency sector with Bitcoin whales touching an all time high.
Experts feel that BTC whales’ high engagement in recent times may be due to the anticipated bull run.
The anticipation is ahead of Paypal’s involvement in Cryptocurrency.
Bitcoin Whales have grown in number as Cryptocurrency rallied with an extreme bullish run last week, especially Bitcoin. In the last few days Bitcoin rallying above 12 thousand US Dollars. The Bitcoin addresses holding Bitcoin has increased substantially in the last one week as price is consistently growing.
A Substantial Increase In Bitcoin Hodlers
Around 2231 Bitcoin addresses have more than 1000 Bitcoins, and this is undoubtedly the highest number ever recorded. Bitcoin whales have a reserve of more than 2.23 million Bitcoins right now which amounts to 12 percent of Bitcoin supply.
Bitcoin whales are described as individuals or holders having a large number of Bitcoins. They are referred to as whales since their large volume can disturb the Bitcoin oceans’ whole rhythm, where the smaller fish (smaller investors) also partake in investment. Whales can impact the price, volatility, and liquidity of the coin. Thus, it is a matter of concern when the number of Bitcoin whales increase substantially.
