$5,100,000,000 Bitcoin Whale Enters Massive Crypto Accumulation Mode

The largest independent Bitcoin whale in existence is accumulating millions of dollars in BTC at a steady pace.

The whale, who is not known to be tied to any crypto exchange or company in the industry, added an additional 87 BTC worth about $3.5 million on Monday.

That’s on top of two huge transactions on March 8th and 9th, totaling 318 BTC and 412 BTC worth a collective total of about $29.7 million at time of publishing.

According to BitInfoCharts, the whale is the biggest non-exchange wallet in existence, holding a whopping 126,428 BTC worth about $5.1 billion at time of publishing.

Source: BitInfoCharts

On the whole, most large whales appear to be in a wait-and-see mode, according to the crypto analytics firm Santiment.

“Bitcoin, Ethereum, and Tether have seen plummeting whale transactions, the lowest amount of combined $100,000+ valued transactions in a year.

This isn’t necessarily bearish, but reflective of large players awaiting further war and inflation developments.”

Source: Santiment/Twitter

Santiment also says Bitcoin holders are for the most part moving their BTC from crypto exchanges to private wallets, a move that generally “implies a decreased risk of future sellloffs.”

At time of publishing, Bitcoin (BTC) is down 0.7% in the last 24 hours, at $40,812.

Ethereum (ETH) is up 1.5% in the last 24 hours, at $2,803.

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Featured Image: Shutterstock/GrandeDuc

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