Bitcoin & Ethereum Whale Populations Quietly Growing, On-Chain Data Reveals

On-chain data from Santiment shows both Bitcoin and Ethereum whale address counts grew in August, signaling steady ￰0￱ & Ethereum Whales Have Seen Their Counts Go Up Recently In a new post on X, on-chain analytics firm Santiment has revealed how the whale populations have shifted on the Ethereum and Bitcoin blockchains ￰1￱ refer to the key stakeholders of a cryptocurrency who hold amounts large enough that they can carry some degree of influence in the ￰2￱ exact scale of these investors is defined differently across ￰3￱ BTC, whales are considered to be entities carrying more than 1,000 BTC (equivalent to $112 million at the current exchange rate), while for ETH, the threshold is 10,000 ETH ($46.4 million).

Related Reading: Bitcoin Selloff: $2.2 Billion In BTC Floods Exchanges Now, here is the chart shared by the analytics firm that shows how the total number of whale-sized wallets has changed on each of these networks over the past few months: As is visible in the above graph, the Bitcoin whales saw their count plummet back in July, implying a notable number of these investors exited from the market near the rally ￰4￱ August, the metric has made gradual recovery for the cryptocurrency, with there now being 13 more such wallets compared to the start of the ￰5￱ this isn’t anything too big, it does indicate that big-money investors are slowly buying back ￰6￱ has also seen its whale population go up during the same window and the increase has been more dramatic in its ￰7￱ total, 48 new whales have joined the blockchain since August ￰8￱ the key position that these investors occupy in the market, the sentiment among them is often worth keeping an eye ￰9￱ a buying push occurring from them right now, it would seem that their outlook is bullish, particularly in the case of ￰10￱ some other news, Bitcoin has witnessed a sharp decline in capital inflows recently, as analyst Willy Woo has explained in an X ￰11￱ is today seeing around less than $1 billion per day in capital inflows, which is significantly down compared to the earlier peak above $2 billion per day.

Interestingly, in the same period as BTC has seen inflows dry up, ETH has observed them pick up ￰12￱ Reading: Bitcoin Keeps Slipping Down: Is $107,000 The Next Support? This could be an indication that investor interest has been rotating from the former to the ￰13￱ the uptrend, Ethereum inflows have risen to almost the same level as BTC ones, meaning that a flip could occur ￰14￱ Price Bitcoin has seen some recovery from its recent low as its price has climbed back up to $112,500. Featured image from Dall-E, Santiment. net, woocharts.

com, chart from ￰15￱