CryptoQuant: investors have accumulated a record amount of bitcoins

Published: June 19, 2024 at 10:18 am Updated: June 19, 2024 at 10:18 am

Recent research from CryptoQuant Inc. news indicates that huge cryptocurrency investors, or “Bitcoin whales,” are adding a considerable amount to their holdings. This pattern is clear from the fact that these Bitcoin investors have been aggressively buying additional coins at the current $30k market price.

The unspent transaction output (UTXO) value bands, exchange whale ratio, and exchange inflow coin days destroyed (CDD) are the three key indicators highlighted in the most recent weekly report from CryptoQuant. All of these data point to the fact that owners who own 1,000–10,000 coins are not only hanging onto their holdings but are also adding to their collection.

The exchange inflow CDD, which calculates the average amount of time bitcoins are kept in a given address before being transferred, is another important parameter. Higher levels often indicate coin transfers by long-term holders. This statistic, according to CryptoQuant, has fallen to a level not seen in eight years on a SMA 30 basis. The low coin days destroyed (CDD) exchange influx suggests that long-term Bitcoin investors are not transferring their holdings to exchanges, which further suggests a preference for accumulating over selling.

According to statistics from CryptoQuant, there is an upward tendency in the 1,000–10,000 Bitcoin UTXO value range. This rise indicates that wallets containing significant sums of bitcoin are expanding, which is consistent with the whales’ accumulating trend. These notable holders, who own between 1,000 and 10,000 bitcoins, are aggressively increasing their holdings, according to CryptoQuant’s research on Bitcoin.

Metaverse Post thinks that investors in bitcoin charts can benefit greatly from the information supplied by CryptoQuant Inc. A strong bullish mood is shown by the Bitcoin accumulation, as seen by the low exchange whale ratio, decreased exchange inflow CDD, and rising UTXO value bands. Due to the fact that big holders usually have a major influence on market dynamics, this behavior can frequently occur before notable price moves.

The latest research from CryptoQuant Inc. news paints an accurate picture of the attitude of big Bitcoin holders toward the market as it stands right now. The market may be set up for future expansion if whales cling onto their coins and continue their coin-accumulating binge. This behavior emphasizes how crucial it is for anybody investing in Bitcoin charts to keep a careful eye on whale activity and important investing data.

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