Crypto analytics platform Santiment is revealing that whales have accumulated Bitcoin (BTC) worth hundreds of millions of dollars in under a fortnight.
Santiment says that relatively large holders of the flagship crypto asset have purchased approximately $726 million worth of Bitcoin in the last nine days.
According to Santiment, three top-20 stablecoins by market cap are also experiencing high demand.
“Bitcoin’s addresses holding between 100 to 10,000 BTC have bought $726 million in BTC the past nine days. Meanwhile, stablecoin assets like USDT, BUSD and DAI are also being bought quickly. This is a recipe for good things.”
The crypto analytics firm says that over the past three weeks, addresses holding between 100 to 10,000 Bitcoin have grown at the fastest rate since February.
“Furthermore, we have seen 159 new addresses holding between 100 to 10,000 BTC in just the past three weeks. This is the fastest growth of these addresses in 10 months, which was right as FUD was peaking after the Russia-Ukraine war was announced to the world.”
On stablecoins, Santiment says that Tether (USDT) and Binance USD (BUSD) stablecoin addresses valued at between $100,000 and $10 million have collectively accumulated $922.4 million worth of the two crypto assets over the past three days.
“Tether’s key addresses have collectively accumulated $817.5 million more in buying power in just the past three days, a +7% increase to what they were holding before December 10, 2022.
Binance USD’s key addresses have collectively accumulated $104.9 million more in buying power in just the past three days, a +9% increase to what they were holding before December 10, 2022.”
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