Odaily Planet Daily News CryptoQuant CEO Ki Young Ju posted on platform X that, "Whales are accumulating Bitcoin through privacy transactions. The annual average number of CoinJoin transactions has surged in the past two years. While some attribute this surge to hackers laundering money, Chainalysis reports that the total losses from hackers this year amount to $2.2 billion — which is less than 0.5% of Bitcoin's realized market cap inflow of $377 billion. In 2024, 1.55 million BTC flowed into accumulation addresses, mainly related to ETFs, MicroStrategy, and custody wallets. Whales often use privacy transactions to transfer funds to new institutional investors. Aside from publicly disclosed holdings, we still do not know who has accumulated approximately 240,000 to 420,000 BTC."