Yesterday, the number of accumulating addresses (accumulation wallets) rose to more than 57,000, accumulating Bitcoin. This is the largest number of addresses accumulating Bitcoin since February 2022. Despite the high price of Bitcoin at $117,000, these addresses accumulated Bitcoin, higher than the monthly average of 8,617 addresses. What are accumulating addresses? They are addresses that continuously accumulate Bitcoin without selling. The general behavior is to accumulate Bitcoin, and they rarely conduct Bitcoin sending transactions for the purpose of selling. Most of the Bitcoin stored in them is old and was purchased long ago. They continually accumulate Bitcoin in varying quantities for the purpose of saving, indicating that the owners of these addresses are long-term investors, market whales, or institutions with high confidence in Bitcoin. These wallets are not affiliated with miners or platforms.
Written by Arab Chain
