Whale Addresses Have Bought $726 Million in BTC in the Past 9 Days

Last Updated:
  • The global crypto market cap has fallen 1.08% over the last 24 hours.
  • Recent data from Santiment suggests that it is the perfect time to buy crypto.
  • BTC’s price stands at $17,745 at press time.

The global crypto market cap is down 1.08% over the last 24 hours according to the crypto market tracking website, CoinMarketCap. At press time, the figure stands at $861.01 billion.

With the crypto market cap dropping in the last day, recent data from Santiment suggests that now is the perfect time to buy crypto as many investors have identified the bottom over the last 7 days.

In a tweet made this morning by the blockchain analysis firm, it was shared that Bitcoin (BTC) addresses holding between 100 to 10,000 BTC have bought $726 million in BTC in the past 9 days.

The tweet added that “stablecoin assets like USDT, BUSD & DAI are also being bought quickly.” Santiment believes that this is “a recipe for good things.”

Shark and whale stablecoin accumulation (Source: Santiment)

As can be seen by the chart shared in the tweet, the holdings of USDT, BUSD and DAI between $100k to $10 million are all rising fast. Meanwhile, BTC key whale holders have collectively accumulated $726 million in BTC in the past 9 days.

In related news, the crypto market leader is trading at $17,745 following a 0.18% drop in price over the last 24 hours. Its price did, however, strengthen against Ethereum (ETH) by 1.93%.

BTC was able to set a daily high of $18,318.53 and a daily low of $17,642.51.

The 24-hour trading volume for Bitcoin has dropped a bit over the last day as the total currently stands at $26,030,099,084, which is a 0.88% decrease.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.