Bitcoin whales are constantly accumulating

8/31/2022, 05:22 PM
Bitcoin whales are constantly accumulating
In recent days, a large sum of Bitcoin has been transferred from Coinbase to an unknown address. This so-called "bitcoin whale" has moved $63,093,364 worth of the cryptocurrency, leading many to speculate about the investor's intentions.

It is not uncommon for investors holding a large amount of Bitcoin to move their funds off of exchanges and into more secure wallets. This is because exchanges are often the target of hackers due to the large amount of money that is stored on them. By moving their Bitcoin to a hardware wallet, investors can better protect their assets from potential theft.

According to data from Glassnode, only 12.14% of the total supply of Bitcoin across all centralized exchanges is still liquid. This means that a large portion of the Bitcoin that is held on exchanges has already been removed, which reduces the potential selling pressure and makes it easier for the price to rise.

The public blockchain data that was used to generate this article comes from Whale Alerts Twitter.

The accumulation of Bitcoin is running continuously! It is now possible to earn interest on your Bitcoin holdings, and there are a number of ways to do so. You can either lend your Bitcoin to others in exchange for interest payments, or you can simply hold onto your Bitcoin and earn interest on it as it appreciates in value. Either way, you can earn a passive income from your Bitcoin holdings simply by letting them sit in your wallet and accrue value over time.