BTC whales grew even more with the Bitcoin price seeing $ 18,000. The top segment, which accounts for 2% of all BTC addresses, holds about 95% of the total Bitcoin supply.
With the last rally of the leader coin, Bitcoin whales’ hands have gotten stronger. According to the news published by Bloomberg, 95% of the Bitcoin supply is controlled by only 2%. According to Crypto Flipside’s head of data science, Eric Stone, who stuck these data, a concentration was observed in these large investors with the increase in the price of BTC.
Why is whales getting stronger worrying?
The strengthening of the hands of BTC whales is fueling concerns about Bitcoin centralization. It is thought that the increased concentration of BTC among whale investors could have a major impact on the market and the field could still be more open to manipulation.
Eric Stone from Flipside finds it unlikely that the whales could launch a massive shock by suddenly selling their Bitcoins. According to Stone, these big investors can liquidate their BTC slowly and prudently.
The richest Bitcoin wallet is in Huobi
According to BitInfoCharts data, wallets with more than 100 BTC make up 61.5% of the total supply. By wallets represent 0.04% of total addresses. There are 14,500 whales with about $ 1.8 million in Bitcoin. More than 16 million addresses hold at least 0.001 Bitcoins, representing about 49% of all wallets.
By contrast, cryptocurrency exchanges are increasingly losing ground against large individual investors. Many exchanges are experiencing difficulties with their BTC reserves every day. Despite this, the richest Bitcoin address currently holds 141,452 Bitcoins worth about $ 2.5 billion in a cold wallet belonging to the Huobi exchange.