New Bitcoin Whales Drive Investment Surge to Nearly $108 Billion
09.10.2024 15:00 1 min. read Alexander Zdravkov
New investments from Bitcoin (BTC) whales have skyrocketed 13 times this year, totaling nearly $108 billion as of October 6, according to CryptoQuant.
These new investors now represent 48.8% of Bitcoin’s total realized capitalization, coming close to the $113 billion attributed to established whales. This surge marks the highest investment level for this group to date.
Realized capitalization reflects the value of Bitcoin’s unspent outputs based on the price at the last transaction, indicating the overall value stored in Bitcoin.
The share of new whales in the total realized cap reached a record high on October 6, exceeding the previous peak of 18.2% from May 2021. New whales are categorized as addresses holding over 1,000 BTC for less than 155 days, excluding those tied to exchanges and miners.
CryptoQuant’s CEO, Ki Young Ju, called this trend a “generational shift” and expects new whales to soon surpass the holdings of older investors.
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