The number of crypto whales is rising. Here’s where they’re coming from

BTC $9242 (+1%) • ETH $232 (+2.7%) • XRP $0.177 (+0.8%)

The number of Bitcoin whales has been rocketing higher since the start of 2019, pointing to an intense accumulation phase amongst these large investors who hold massive amounts of crypto.

The growth of this number seems to indicate that investors with access to large sums of capital do believe that the cryptocurrency’s long-term outlook is incredibly bright, as it is fast approaching its all-time highs that were set in May of 2018.

Data, however, indicates that this number is not growing due to new money entering the market, but rather due to these entities withdrawing BTC from exchanges.

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Crypto market data

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