Just the 2 percent of top crypto wallets own more than 95% of cryptocurrency assets according to digital asset research group flipsidecrypto.com
Bitcoin is becoming more and more popular every day, and the price of BTC has gone up 145% since the start of the year. A lot of news sources are attributing this price growth of Institutional investors and main street interest growing in the digital assets class, however, when considering investing in BTC every investor should be informed about Bitcoin whales.
Bitcoin whales are huge BTC investors who own so much in cryptocurrency assets that they can actually impact the market supply and price of assets. Whales are called crypto wallet owners who have more than 1000 BTC on their wallet, or more than $17 million according to today’s price.
Even though Blockchain is mostly anonymous, investors can still monitor most of blockchain transactions and wallets online and you can even see which wallets have the most assets on them. You can find this info on bitinfocharts.com. Here is the Screenshot of the top 10 BTC wallets that have more than $14 Billion worth of Bitcoin on them:
Considering that BTC’s daily trading volume is in the range of $2 to $4 billion, these Bitcoin whales can have a huge impact on the cryptocurrency market. Even if 1 decides to sell all of The BTC because of the supply shock price might go down drastically. However, usually, These Bitcoin whales are smarter about selling BTC. They are selling it at a slow pace. As the price of Bitcoin has been growing, it has been noticed that crypto whales have started diverting their assets in the smaller wallets, here a gif showing research made by flipside crypto back in October:
Monitoring these TOP bitcoin wallets can give investors good insights and trading signals.