99% of Bitcoin is managed by whales and institutions

 

According to data from The Block, whales and institutions account for almost the entire transaction volume of Bitcoin (CRYPTO: BTC).

What Happened On Sunday, the on-chain analysis shared by The Block revealed that 99.3% of the total volume of Bitcoin is managed by whales and institutions.

99% large transaction volume share -

The percentage of # Bitcoin's total volume being managed by institutions and whales reached record levels of 99.3% in the fourth quarter of 2021. This is up from 97.5% in the first quarter of the year and 58% the first quarter of 2017. pic. twitter.com/oVmnzE9AzP

- IntoTheBlock (@intotheblock) December 19, 2021

"The large volume of transactions acts as a proxy for institutional activity and" whales "", as The Block has stated in a tweet.

"The aggregate volume transferred in transactions over $ 100,000 increased by a factor of 4 from an average of $ 450 billion per week in January to $ 1.9 trillion in November."

For its part, another report from the on-chain analysis platform Santiment shows that the number of Bitcoin addresses that have between 100 and 1,000 BTC has grown considerably in the last 10 weeks.

Bitcoin's number of whale addresses holding 100 to 1,000 $ BTC has 193 more addresses in this prestigious club, compared to just 10 weeks ago. The number of whales in this tier has shown some strikingly impressive parallels to $ BTC price, historically.

Photo by Michael Förtsch on Unsplash