BTC, ETH, XRP, and SOL hit two-month highs, pushing the virtual currency’s market capitalization past $1 trillion.
Cryptocurrency values have seen significant gains over the past week, and traders and investors are still looking for key signs that the bazaar is moving from a bear cycle to a bull cycle.
Blockchain analytics firm Santiment tweeted a key indicator regarding cryptocurrency market favorites.
According to the report, the number of bitcoin addresses (BTC) is rapidly increasing from 100 BTC to 1000 BTC. The tweet added that the whales are piling up BTC, so the right gains tend to occur across the market.
BTC sharks and whales address (Source: Santiment )
A graph of Santiment’s tweets clearly shows that over 416 addresses contain between 100 and 1,000 BTC. This is an increase of 3.04% over the past 8 months.
The accumulation of BTC has increased the value of market favorites by over 26% in two weeks; CoinMarketCap shows that BTC is up over 11% in the past 24 hours. This adds to the positive results for the week, with the weekly movement in the value of BTC at the time of issuance increasing to +23.61%.
BTC trading volume has increased another 31.91% over the past 24 hours. This has increased the artificially high value of Bitcoin to approximately $40, 957, 277, 701.
According to Coingecko statistics, the cryptocurrency’s market capitalization rose 9% to $1, 028, 100, 668, 522 ($1.02 trillion).
Bitcoin (BTC) continued its personal march toward 2023, crossing $20, 000 on January 14 for the first time in more than two months.
Bitcoin is now trading above its own benchmark price (realized price) for the first time in months.” In other words, the entire bazaar is not underwater at this point,” said Will Clemente, co-founder of the digital asset research firm Reflective Research. Cannot read all totals. Retry…