According to the latest research conducted by Chainalysis, large Bitcoin investors are not associated with price volatility in the cryptocurrency market. The study examined the 32 largest Bitcoin wallet, which contain about 1 million Bitcoins, which is equivalent to 6.3 billion dollars.
It is worth noting that among the largest Bitcoin investors there are both legal entities and individuals owning a large stock of cryptocurrencies, which allows influencing the market. Despite all the assumptions, Chainalysis claims that Bitcoin investors are a fairly diverse group and only a small part of them are active traders. Despite the fact that they can influence the market, large investors, as a rule, do not follow general market trends.
During the study, 32 analyzed purses were divided into 4 groups. The most active group includes 9 wallets that are regularly used to conduct Bitcoin transactions. These wallets contain about 332,000 coins, worth $ 2 billion. It should be noted that only 3 wallets show the highest activity. As shown, the majority of these wallets were registered in 2017.
The second group of wallets is owned by miners and early investors. The group has 15 wallets, which also contain about 332,000 coins. As the data show, this group shows the lowest level of activity in trade. Despite this, many of these wallets sold a large number of coins in 2016-2017.
According to the data, the remaining wallets are divided into 2 groups – questionable or illegal wallets (125,000 coins) and “lost” wallets (212,000 coins). It is worth noting that the wallets from the last group have been inactive since 2011.
The analysis shows that large investors do not contribute to the growth of cryptocurrency volatility.
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