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Bitcoin Whales Started Accumulating More. Is FOMO About to Kick In?

Bitcoin Whales Started Accumulating More. Is FOMO About to Kick In?
Cover image via u.today
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A recent Diar study reveals that the number of Bitcoin addresses that hold between 1,000-10,000 BTC has increased by 26 percent in 2019, which is a surefire indicator that more retail investors now accumulate Bitcoin. The “crypto king” surged by more than 100 percent on a year-to-date (YTD) basis.

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Number of Active Bitcoin Addresses Continues to Grow While BTC Price Remains in Limbo

Number of Active Bitcoin Addresses Continues to Grow While BTC Price Remains in Limbo

Whales buying the dip

The above-mentioned report also shows that the Bitcoin nouveau riche (those addresses that hold between 1,000 BTC and 10,000 BTC) accumulated more than 450,000 BTC.

These addresses (excluding those that are controlled by Coinbase) are now responsible for 26 percent of the total circulating supply.

The number of addresses that belong to retail investors has been steady throughout the year at 37-38 percent.

However, cryptocurrency exchanges now account for only 16 percent of the total supply (a sharp contrast compared to Bitcoin’s 20 percent).

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Quick Look at Richest Bitcoin Cash (BCH) Addresses. Who Are These Whales?

Quick Look at Richest Bitcoin Cash (BCH) Addresses. Who Are These Whales?

Meet “0.01 percenters”

According to data provided by BitInfoCharts, these addresses account for a minuscule 0.01 percent of the total number. The lion’s share of addresses holds less than 0.01 of BTC.       

Recently, U.Today revealed the top 10 richest Bitcoin addresses. The richest BTC wallet, which is owned by Bittrex, holds more than $1 bln worth of BTC. However, there is a lot of inactive whales that are called “Bitcoin zombies.”       

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Libra Was a "Neat Idea" That Will Never Happen: JPMorgan CEO Jamie Dimon

  • Alex Dovbnya
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    Jamie Dimon predicts that Facebook will not be able to launch Libra

Libra Was a "Neat Idea" That Will Never Happen: JPMorgan CEO Jamie Dimon
Cover image via u.today

During an event organized by the Institute of International Financed, JPMorgan Chase CEO Jamie Dimon weighed in on Facebook's Libra cryptocurrency that has ruffled many feathers since its announcement that took place on June 18.

Dimon calls Libra "a neat idea," but he is certain that this launch will never happen. That's all that the big banking boss has to say about the controversial stablecoin. 

He further added that the idea wasn't unique and recalled the bank's own stablecoin.  

Over the past few weeks, multiple private companies have abandoned the Libra Association out of fear of closer regulatory scrutiny. However, neither their exodus nor the outrage of lawmakers around the global stopped Facebook from moving forward with his plans. The company expects to add around 100 members prior to the launch of Libra.

Jamie Dimon is clearly not a fan of cryptocurrencies. Back in September 2017, just three months before the peak of the crypto bubble, Dimon infamously called Bitcoin a fraud, which is "worse than tulip bulbs." His critique was so scathing that the Bitcoin price dropped after his speech. 

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However, the number one US bank made a sudden U-turn and announced the launch of JPM Coin, its very own stablecoin that was perceived as a slap in the face for XRP.

Ripple CEO Brad Garlinghouse later explained why so-called "banking coins" are not the right answer to the global cross-border payment problem. Notably, Garlinghouse slammed Facebook for its "arrogant" approach to the Libra project while predicting that the stablecoin will not be launched by 2022.   
 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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