Brokers ReviewBTCNews

BTC Holders Gains, as Transaction by Altcoin Investors Rises 

The recent Bitcoin price surge beyond $52,000 has caused a frenzy in the digital assets market. Recent data indicates an increase in whale transactions across a range of cryptocurrencies, indicating increased activity and interest by major holders.

In 2023, a major whale transaction on the Bitcoin market involved over $10 million worth of BTC. The transaction broke the record of all transactions made in 2023 by 30%, which was the first time in the later days of 2023 that it attained such height.

Bitcoin ended the year on an impressive note, rebounding by 120%, thus bringing back investors’ confidence in the market. Records show that in December 2024, Bitcoin whales made a major transaction worth slightly over 3,000 BTCs, valued at more than $105 million.

The funds were said to be moved to the Binance exchange, making it the biggest BTC transaction ever made on the Binance exchange in a single day. Users on that day also recorded a $26 million profit.  Industry experts believe that the approval of the spot BTC ETF by the Security and Exchange Commission (SEC) contributed significantly to the BTC’s recent bullish trend. 

Bitcoin Exceeds $52,000, Records $100,000 Increase, STX Makes Move

Retail and institutional investors looking to get exposure to digital assets are drawn to the cryptocurrency market by the recent spike in the price of Bitcoin, which has restored market optimism. There has been a $100,000 increase in whale transactions, which usually happens before each rally and pushes the assets to an all-time high.

The price of BTC on February 15 reached an all-time high of $52,816, the first time in two years. This recent development has also extended its positive performance to the altcoins, which was expressed in mSantiment’s market analysis.

Nicholas Merten, the DataDash host, in a different development, has announced that he is expecting a bullish movement in the Stacks (STX) market, a digital assets that runs on the Bitcoin blockchain. Merten added that STX is showing a solid positive potential because of the recent huge adoption of the BTC.

Ethereum Whales Exchange WBTC for Ethereum, Experts Warns 

The report also stated that the whales exchanged their Wrapped Bitcoin (WBTC) for Ethereum (ETH), describing a systematic shift in their investment pattern. As of press time, the price of Ethereum has risen to an all-time high of $2,800, the first time in 2024 and the highest point since 2022. The price increase in Ethereum has further renewed investor’s confidence in the wider cryptocurrency market.

Data from Lookonchain says that Ethereum whales have stored assets worth 69.500 ETH, valued at $179 million, from cryptocurrency exchanges like OKEx, Bybit, and Bitfinex. Analysis on Cointurk has warned that investors should be cautious and do extensive study as the market develops, considering the dangers and volatility of investing in cryptocurrencies.

However, the market performance for Bitcoin at press time shows that it trades at $52,188.02, with a trading volume of $35,788,104,058 in the last 24 hours, recording a 1.18% drop from the previous trading. Bitcoin’s market capitalization as of today is $1,024,425,727,639. 

Santiment Releases Data, Records Increase in Whales Activities

According to Santiment, the gains from the BTC are slowly sliding into altcoins, causing an increase in institutional whale transactions. The cryptocurrency tracking company also disclosed that there’s been an increase in transaction volume of over $100,000 in altcoins like PlayDapp (PLA), Injective (INJ), Basic Attention Token (BAT), and Rocket Pool (RPL).

According to the graph released by Santiment, these assets had a high transaction by whales from February 7 to 13. Another data from IntoTheBlock shows that owners have already started recording a considerable profit when the price of BTC went up by  95% to reach $51,836. The data also shows that only 4.15% of holders had an unrealizable loss. 

On the other hand, Ethereum trades at $2,781.94, with a slight drop of 1.20% in the price. The market capitalization also dropped by 1.14% to settle at $334,185,227,879 as at press time. It recorded a trading volume of $18,337,219,948, with a 22.34% drop.

Written by
Don Blankenship

Don Blankenship, a crypto writing maestro, captivates with his astute analyses of blockchain phenomena. Synthesizing the dynamic world of digital currencies into insightful prose, Don's articles are a beacon for enthusiasts and professionals. His expertise establishes him as a definitive voice in crypto journalism.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

BlockchainBTCGuides

Product Guide: GeForce RTX 3060 Ti Ethereum Mining Equipment

The GeForce RTX 3060 Ti by NVIDIA is a top technological corporation...

BlockchainBTCNews

Bitcoin Halving to Cost Miners Billions of Dollars in Losses 

Miners prepare for possible billion-dollar losses as the next Bitcoin halving event...

Brokers ReviewBTCGuides

Aptos Labs Product Guide

Aptos Labs focuses on creating cutting-edge solutions for data analytics, Machine Learning...

BlockchainBTCNews

ETF Experts Predicts Bitcoin ETFs Dominance Over Gold

An Exchange-Traded Fund (ETF) expert has boldly predicted that Bitcoin ETFs will...

Skip to content