— is a metric that measures the proportion of large BTC holders' activity on crypto exchanges. It calculates the percentage of bitcoin held by whales in comparison to the total amount of bitcoin held on all exchanges. CryptoQuant said bitcoin's exchange whale ratio on all exchanges using a simple moving average over the past 30 days has hit a 5-year low, indicating that the top 10 inflows to exchanges are noticeably small compared to the total inflows to crypto exchanges.
Bitcoin's UTXO value band of 1,000 to 10,000 bitcoins has been rising, CryptoQuant said. It means that whales holding between 1,000 and 10,000 bitcoins have been accumulating more bitcoins, the firm added. Zakrzowski said wallets holding 1,000 to 10,000 bitcoins are actual whales, according to CryptoQuant, because the larger cohort of wallets holding more than 10,000 bitcoins typically belong to exchanges or funds.
© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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