According to ChainCatcher, CryptoQuant CEO Ki Young Ju said that whales are accumulating Bitcoin through privacy transactions. In the past two years, the annual number of CoinJoin transactions has tripled.
While some attribute the surge to money laundering by hackers, Chainalysis reports that total hacker losses this year are $2.2 billion, accounting for less than 0.5% of Bitcoin's $377 billion realized market capitalization inflow.
In 2024, 1.55 million BTC flowed into accumulation addresses, mainly related to ETFs, MicroStrategy, and custodial wallets. The identities of the accumulators of about 240,000 to 420,000 BTC remain unknown.
