The post Crypto Whales Are Accumulating $1billion Of Bitcoin (BTC) Daily: Here Are 2 Other Cryptos That Whales Are Holding For Huge Profits appeared on BitcoinEthereumNews.com.

Although BTC has experienced some sharp drawdowns this month, the price has rebounded quickly each time, due to strong fundamentals. Data from crypto analytics platforms such as CryptoQuant show that new crypto whales are accumulating large amounts of Bitcoin, while on-chain data shows that BTC active addresses are on the up. So with Bitcoin firmly seated in the whales’ portfolio, what else are they holding for this cycle? Data reveals that TRX and Cutoshi are the ones to watch, let’s find out why. Bitcoin Prepares For A Move To The Upside According to Quinten Francois on X, new BTC whales are accumulating a lot of Bitcoin, forming a very similar pattern to that seen before the massive bull run in 2020. CryptoSlate explains CryptoQuant’s recent data release, saying, “The amount invested by new Bitcoin (BTC) whales is up 13x this year to nearly $108 billion”. Not only that, but “the new whales have 48.8% of Bitcoin’s total realized cap, almost reaching the $113 billion paid by ‘old whales.’ “ Realized cap assesses Bitcoin’s stored value by calculating each unspent output’s worth at its last movement (UXTO). This metric offers a more nuanced view of Bitcoin’s value than the traditional market cap, reflecting the actual price history of coins in circulation. Moreover, Jamie Coutts on X, shared a graph showing that active Bitcoin addresses are up after an 11-month downtrend. He believes that BTC will experience a 2 – 2.5x from the current price of $61,000. Tron Is Frequently Used In The ‘Real World’ Whatever your thoughts on (in)famous founder of Tron – Justin Sun, there’s no doubt that Tron has become one of the most important blockchains. While many L1 and L2s boast ever faster and cheaper transaction fees, Tron has been offering this for some time now. Many people…

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Filed under: News - @ October 15, 2024 3:20 am