99% Of Bitcoin Volume Is Managed By Whales And Institutions: Analysis

According to data from The Block, whales and institutions account for nearly the entirety of Bitcoin’s BTC/USD transaction volume.

What Happened: On Sunday, on-chain analysis shared by The Block revealed that 99.3% of Bitcoin’s total volume is managed by whales and institutions.

99% large transaction volume share -

The percentage of #Bitcoin's total volume being managed by institutions and whales reached record levels of 99.3% in the fourth quarter of 2021. This is up from 97.5% in the first quarter of the year and 58% the first quarter of 2017. pic.twitter.com/oVmnzE9AzP

— IntoTheBlock (@intotheblock) December 19, 2021

“Large transactions volume acts as a proxy to institutional and "whales" activity,” stated The Block in a tweet.

“The aggregate volume transferred in transactions of over $100k increased by a factor of 4 from an average of $450B per week in January to $1.9T in November.”

Another report from on-chain analytics platform Santiment shows that the number of Bitcoin addresses that hold between 100 and 1000 BTC has grown considerably in the last 10 weeks.

🐳 #Bitcoin's number of whale addresses holding 100 to 1,000 $BTC has 193 more addresses in this prestigious club, compared to just 10 weeks ago. The number of whales in this tier has shown some strikingly impressive parallels to $BTC price, historically. https://t.co/kFzKHVqWxq pic.twitter.com/ogN0WIz7Ut

— Santiment (@santimentfeed) December 16, 2021

Price Action: At the time of writing, Bitcoin was trading at $45,922, down 2.6% in the last 24 hours. The leading digital asset had a trading volume of $31.0 billion and accounted for 40.6% of the crypto market.

Photo by Michael Förtsch on Unsplash