The CEO of analytics platform CryptoQuant has claimed that bitcoin whales (BTC) have bought up around $3 billion worth of the cryptocurrency in just 24 hours.
CryptoQuant CEO Ki Young Ju told 345,000 subscribers of social media platform X that investors with deep pockets have bought up tens of thousands of #CryptoWatchMay2024 in just one day, marking the dawn of a new era.
#CryptoWatchMay2024 miners have amassed 47,000 BTC in the last 24 hours. We are entering a new era.
To get these results, Ju used CryptoQuant's search filter to find whales of major crypto assets by market capitalization that owned at least 100 BTC, traded within 24 hours, and were not accredited as a centralized exchange (CEX) or miner wallet.
Ju also notes that the recent whale activity around bitcoin is not related to the BTC exchange-traded fund (ETF) approved by the U. S. Securities and Exchange Commission (SEC) in January.
Last month, Ju said new #cryptocurrency investors (defined by CryptoQuant as investors with an average coin age of less than 155 days and owning at least 1,000 bitcoins) have accumulated nearly twice as much BTC as long-term investors.
At the time, Ju said that old BTC tokens are being transferred to new holders after the average age of dormant bitcoin recently reached a 13-year peak.
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