New data reveals that deep-pocketed Bitcoin (BTC) holders have suddenly accumulated over a billion dollars worth of the crypto king during the last two weeks.
According to market intelligence platform IntoTheBlock, large Bitcoin holders have amassed big quantities of the top digital asset by market cap since the middle of August.
“Addresses holding 0.1% of the Bitcoin supply or more have added over $1.5 billion in BTC holdings in the last two weeks.”
Furthermore, data from blockchain tracking firm Glassnode finds that the number of investors holding at least 10 BTC or more has reached over 150,000, spiking to a three-year high.
“Bitcoin – number of addresses holding 10+ coins just reached a 3-year high of 157,324.”
Bitcoin is trading for $25,889 at time of writing, a fractional decrease on the day.
Meanwhile, analytics firm Santiment is keeping a close watch on the total market cap of the top six stablecoins. According to the firm, the recent surge in the market caps of the six largest stablecoins suggests that crypto may be gearing up for a reversal.
“The market caps of the top 6 stablecoins in crypto have collectively declined by 25.9% in the past 18 months. But for the first time since the FTX collapse last November, we see growth. Since Aug. 22nd, the combined market caps have grown by $663.2 million.”
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