Recent Santiment data reveals a considerable increase in the number of whales holding Bitcoin. There are already a considerable 16 wallets among individuals who own 100–1,000 Bitcoins (BTC). This rise supports an optimistic Bitcoin outlook by suggesting that smaller wallet holders are “graduating” to the next tier.
Not same
Whale behaviours for Bitcoin and Ethereum have been seen to clearly differ. Ethereum whales, those who own 1,000 ETH or more, are now seeing a sharp decline. These significant stakeholders have sold a staggering 12 million ETH in the past year alone. Since 2020, this number has increased to 20 million ETH, indicating a major change in Ethereum whale sentiment. The trajectory among Bitcoin whales, or individuals who own 1,000 BTC or more, is strikingly different and spans from overall increase to stability.
This trend highlights Ethereum’s persistent sell pressure, which contrasts sharply with Bitcoin’s direction at the moment.
Shark and whale wallets
Since February 2022, there has been a noticeable increase in the number of shark and whale wallets that have at least 10 Bitcoin. This pattern of collecting bigger wallets has exploded over the previous 20 months, resulting in a further 11,806 addresses reaching this important milestone. This demonstrates strong trust among major stakeholders in the potential of the digital asset and reflects an amazing 8.12% growth in such wallet holders overall.
