Even as Bitcoin (BTC) tanked about 20% from an all-time high of $41,962.36 to near-$30,000 levels on Monday, the number of “Whale” accounts hit a record high.
What Happened: The number of Bitcoin Whales, that is accounts holding more than 1,000 BTC, increased to 2,140 on Monday, CoinDesk reported — citing Glassnode data.
Two-hundred new Whale accounts have been registered in the past two weeks alone, as per Glassnode, and the number has risen 25% year-over-year.
See Also: Why Bitcoin 'Whales' Are Not Ready To Cash Out, Even At All-Time Highs
Supporters of Bitcoin are unfazed by the sudden pull-back in Bitcoin, dubbing such corrections as “necessary” and “healthy.”
Data from CryptoQuant suggests that Bitcoin miners increasingly selling the cryptocurrency could be a major contributing factor in the recent slump.
Price Action: Bitcoin traded 4.9% lower at $33,218.25 at press time. Ethereum (ETH) was down about 6% at $1,029.10.
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