Content
- Whales decrease on average
- Market Performance of Cryptocurrencies
While a large percentage of inexperienced crypto traders are panic selling their relatively small holdings, this whale added 488 BTC to his wallet already containing 124,487 coins, exceeding Michael Saylor’s collateral for nearly 100 coins.
Whales decrease on average
If we take a look at the market activity of whales, it is easy to see that the major players are constantly adding funds to their wallets since Bitcoin started to fall from its all-time high near $70,000. .
By averaging down, the major players in the market can mitigate their losses after future asset price recoveries. The same strategy is often used by Michael Saylor’s MicroStrategy. The company has also purchased cryptocurrencies despite market conditions.
The average wallet entry remains at approximately $22,000 per Bitcoin, meaning whales are up at least 63% at this point. When Bitcoin is trading at its peak, the profitability of major wallets is at approximately 200%.
Compared to MicroStrategy, the anonymous whale is still significantly more profitable than the company that currently holds nearly $4.5 billion in Bitcoin.
Market Performance of Cryptocurrencies
The crypto market sell-off has been worsening the market since the start of the new year as the majority of digital assets lost up to 50% of their market value in less than a month.
According to account and account data on various centralized exchanges that allow users to trade perpetual futures contracts, almost half of the traders on the platform have dropped in price as the number of positions has increased. market sales increased exponentially.
At the time of writing, Bitcoin is trading at $36,420 and has lost 0.6% of its value in the past 24 hours.
Follow u.today