Whale activity on the Bitcoin network makes up 50% of all transactions

Tag : CryptoSlate

Definition

Entity-adjusted relative on-chain volume breakdown by the USD value of the transactions.

Quick Take

  • Whale activity in terms of transactions now accounts for 50% of the Bitcoin network.
  • Whale activity is defined by a transfer volume of $1M or more.
  • During the FTX collapse, whale activity decreased to as low as 39%.
  • During the FTX collapse, whale addresses increased drastically, with a 30-day change count of over 20 addresses.
Transfer volume breakdown by size: (Source: Glassnode)
Transfer volume breakdown by size: (Source: Glassnode)
Whale address count: (Source: Glassnode)
Whale address count: (Source: Glassnode)

The post Whale activity on the Bitcoin network makes up 50% of all transactions appeared first on CryptoSlate.

Your Diving Board Into The Vast Pool Cryptocurrencies Have Become by Johan Vranckx
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