New data shows that Bitcoin (BTC) holders with big pockets have suddenly accumulated more than a billion dollars worth of crypto king in the past two weeks.
Major Bitcoin holders have amassed large amounts of the most important digital assets measured by market capitalization since mid-August, according to market intelligence platform IntoTheBlock.
“Addresses holding 0.1% of Bitcoin supply or more have added more than $1.5 billion in BTC holdings in the past two weeks.”
Further data from blockchain tracking company Glassnode finds that the number of investors holding at least 10 BTC or more has reached 150,000, a three-year peak.
“Bitcoin – the number of addresses with more than 10 coins just hit a three-year high of 157,324.”
Bitcoin is trading at $25,889 at the time of writing, a fractional drop on the day.
Meanwhile, analytics firm Santiment is keeping a close eye on the total market capitalization of the top six stablecoins. According to the company, this is the recent increase in the market capitalization of the six largest stablecoins suggests that crypto may be gearing up for a turnaround.
“The market caps of the top 6 stablecoins in crypto have collectively fallen by 25.9% over the past 18 months. But for the first time since the collapse of the FTX last November, we are seeing growth. Since August 22, the combined market caps have grown by $663.2 million.”
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Generated image: Midjourney