Bitcoin surges to record levels in accumulation addresses

While Bitcoin continues to trading at the level of $50 thousand, the number of BTC in accumulation addresses that hold for long-term and have no connection with miners or exchanges reached an all-time high.

Bitcoin surges to record levels in accumulation addresses

Bitcoin, which has managed to stay above $50 thousand decisively for ten days, seems to have regained the trust of long-term significant holders.

According to the post of Ki Young Ju, CEO of on-chain tracking platform CryptoQuant, Bitcoin inflows into accumulation addresses reached an ATH, surpassed 25.3K.

Young Ju also explained what he meant by accumulation addresses as follows:

  • There is no outgoing tx
  • The balance exceeds 10 BTC
  • Does not include CEX and miner addresses.
  • Has received more than two incoming tx
  • The most recent transaction occurred within the past 7 years.

Two days ago, Bitcoin surpassed $53 thousand for the first time after December 4, 2021, but then fell below $51 thousand. Ethereum followed the rise of Bitcoin, and the second largest cryptocurrency surpassed $3 thousand for the first time after April 26, 2022.

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