According to Twitter user @Diditaihuttu, a massive Bitcoin whale owns 122,000 BTC, continuously buying more coins throughout 2021 and accelerated buying last November. Since then, this whale has purchased over 4,000 BTC, adding them to their crypto holdings.
A large Bitcoin whale has been adding Bitcoin to its already massive holdings since November
“The last time this huge whale (122k bitcoins) sold bitcoin was November 8, 2021. At that time he sold 1500$ in BTC and then he just bought!!!” Didi Taihuttu ALLIN spoke.
The source: ₿ Didi Taihuttu ALLIN / Twitter
According to BitinforCharts, this account (with address 1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ) currently has a total balance of 122,972 Bitcoins, which equates to $5,179,111,161.
Over the past few months, since November, this whale has purchased Bitcoin vaults ranging in size from 120 to almost 500 BTC. According to Diditaihuttu, who shared a screenshot of the whale’s purchase, the large Bitcoin holder made only one sale of 1,500 BTC. Besides, the whale is just taking in more BTC.
Whale activity in the market does not follow the general trend that traders have seen in March and October. In addition to inactivity, exchange addresses are still missing both Ethereum and Bitcoin flows, while non-exchange addresses accumulate.
During a crypto market correction, whales tend to enter an accumulation phase and buy more coins or tokens to increase their positions and cover future losses as the market recovers. .
“The big whale transactions don’t happen with the same frequency as in October or November. Our metrics indicate that the BTC network is receiving around 13k transactions per day in excess of $100k in value. . ETH’s network is hitting around 9k per day,” said Santiment.
The source: Santiment
The spike often follows this trend in the activity of large on-chain addresses. But according to Santiment, whales are not exhibiting the same trading activity that we have previously witnessed under similar market conditions.
About 13,000 transactions appeared on-chain over $100,000 in today’s market. The same value in previous correction periods was around 40,000 transactions for Bitcoin.
While Bitcoin whale activity leaves something to be desired, Ethereum’s exchange outflows are still near all-time lows. At the same time, with exchanges not receiving any coins, whale-level addresses are constantly accumulating more coins, which is often seen as a bullish sign.
“The amount of Ethereum held by the top 10 NO EXCHANGE whale addresses has now increased to 25.7 ETH held. Meanwhile, the top 10 EXCHANGE whale addresses continue to drop, with only 3.57 ETH. This ratio is the highest since the birth of the property,” stated Santiment.
The source: Santiment
The top holdings of non-exchange addresses hit an all-time high of 25 million coins. A large portion of the supply at these addresses is most likely held by private funds rather than large retail investors.
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