The latest weekly report from Santiment called “On Bitcoin Whales and Hodlers”,shows that whales still hold crypto playground — both for Bitcoin and Altcoins.
Key Insights
- More than 50% of the total supply of 855 assets that are tracked by Santiment belongs to top 100 addresses.
- 61% of Bitcoin’s total supply is in the wallets of of Bitcoin millionaires holding 100+ Bitcoin
- Altcoins are no different as 80% of their supply is controlled by whales
- Smalltime BTC investors are growing (holding less than 10 Bitcoin)
On Bitcoin
Bitcoin whales are at an all time high with 2191 address holding more than 1K BTC. The report also shows that whales are confident about Bitcoin’s near and mid-term price potential.
Whale holdings also indicate that the price of Bitcoin depends largely on their loyalty.
On the other hand, Bitcoin hodlers have continued to keep their Bitcoins throughout 2020. In fact 65.1% of all BTC have not moved in the previous year which marks the all-time low in Bitcoin’s yearly circulation.
Moreover, Bitcoin’s Mean Invested Age implies that the hold cycle has been ongoing. Mean Dollar Invested Age is the average amount of days that all coins stayed in their current addresses. Rising MDIA points to a wide accumulation while a declining MDIA shows a network-wide distribution.
When Bitcoin whales trading activity were tracked by Santiment for the last 2 years, it shows that trading returns is +46.6% while hodl returns is +61.1%.
But it is not all about Bitcoin whales, because small-time investors have more than doubled in the past 5 years from 6.46% to 14.27% since August 2015.
Top Altcoins Supply are Largely Owned by Whales Too
80% of the total supply of the top 5 largest cryptos at the moment belongs to whales.
Like this article? This is made possible through Santiment. Get insightful reports from Santiment to get ahead of the crypto space. Santiment is a behavior analytics platform for cryptos, sourcing on-chain, and social and development information on 900+ coins.
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