Bitcoin, Ethereum whales accumulate despite market-wide selloff

As a researcher, I am gathering information about the life experiences of the persons involved in Bitcoin (BTC) and Ethereum (ETH) transactions. Here is some additional context:


On-chain data shows increased accumulation from Bitcoin and Ethereum whales despite market-wide bearish momentum.

Based on data from IntoTheBlock, we’ve seen an uptick in significant Bitcoin (BTC) and Ethereum (ETH) transactions valued at $100,000 or more starting September 1st, following a series of consistent decreases during the last week of August.

Bitcoin, Ethereum whales accumulate despite market-wide selloff

On September 1st, there was a significant increase of of large Bitcoin (BTC transactions surgedron holders of BTC and Ethereum (ETH) significantly increased. The count of substantial BTC transactions jumped from 13,100 on September 1 to 18,000 on September 3, according to ITB data. Meanwhile, the number of whale transactions involving at least $100,000 worth of ETH saw a notable increase as well. On August 31, there were 2,150 such transactions, but by September 3, this figure had risen to 4,530.

Bitcoin, Ethereum whales accumulate despite market-wide selloff

It appears that, based on available data, whales have been observed to be increasingly engage in a significant increases in the largest stablecoin Tether (USDT, specifically USDT (USDT. Specifically Cap, USDT transactions. Specifically, the number of large USDT transactions jumped from 2,260 on Aug. 31 to over 5,000 on Sept. 3.

Bitcoin, Ethereum whales accumulate despite market-wide selloff

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On a different note, USD transferred approximately $66 million as net inflows on the same day. Typically, surging stablecoin inflows into centralized platforms may suggest heightened Bitcoin and altcoin buying activities.

According to a cryptonews article, approximately $1 billion in Bitcoin was transferred from cryptocurrency exchanges between August 26th and September 2nd.

Today, both Bitcoin and Ethereum faced a downward momentum. BTC fell by 3.5% and is trading at $56,700 at the time of writing. ETH slipped 4% and is currently trading at $2,400.

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2024-09-04 12:43