The largest independent Bitcoin whale in existence is accumulating millions of dollars in BTC at a steady pace.
The whale, who is not known to be tied to any crypto exchange or company in the industry, added an additional 87 BTC worth about $3.5 million on Monday.
That’s on top of two huge transactions on March 8th and 9th, totaling 318 BTC and 412 BTC worth a collective total of about $29.7 million at time of publishing.
According to BitInfoCharts, the whale is the biggest non-exchange wallet in existence, holding a whopping 126,428 BTC worth about $5.1 billion at time of publishing.
On the whole, most large whales appear to be in a wait-and-see mode, according to the crypto analytics firm Santiment.
“Bitcoin, Ethereum, and Tether have seen plummeting whale transactions, the lowest amount of combined $100,000+ valued transactions in a year.
This isn’t necessarily bearish, but reflective of large players awaiting further war and inflation developments.”
Santiment also says Bitcoin holders are for the most part moving their BTC from crypto exchanges to private wallets, a move that generally “implies a decreased risk of future sellloffs.”
At time of publishing, Bitcoin (BTC) is down 0.7% in the last 24 hours, at $40,812.
Ethereum (ETH) is up 1.5% in the last 24 hours, at $2,803.
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