Bitcoin and Ethereum Whale Addresses Increase Steadily in August
On-chain data from Santiment indicates that both Bitcoin and Ethereum whale addresses increased in August, suggesting steady accumulation by significant investors.
Key Findings
- Whales are defined as holders with over 1,000 BTC (approx. $112 million) for Bitcoin and over 10,000 ETH (approx. $46.4 million) for Ethereum.
- Bitcoin whale counts decreased in July but rose by 13 wallets in August.
- Ethereum saw a more substantial increase with 48 new whales since the beginning of August.
- The sentiment among these investors appears bullish, especially for Ethereum.
- Bitcoin has experienced a decline in capital inflows, dropping to under $1 billion daily from over $2 billion, while Ethereum's inflows have increased significantly.
- Current Bitcoin price is approximately $112,500, indicating recovery from recent lows.
