Bitcoin Accumulation Addresses Hit Record High of 25,300 BTC in One Day: CryptoQuant

CryptoQuant CEO Ki Young Ju revealed that on February 19, Bitcoin accumulation addresses experienced a net inflow of 25,300 BTC in a single day, marking a record high in the cryptocurrency’s history.

Accumulation addresses, as defined by Ki Young Ju, are characterized by certain criteria, including no outgoing transactions, a balance exceeding 10 BTC, exclusion of Centralized Exchange (CEX) and miner addresses, receipt of more than two incoming transactions, and the most recent transaction occurring within the past 7 years.

Source: CryptoQuant

The information was shared by Ki Young Ju through CryptoQuant’s analytics platform, which monitors and analyzes various metrics related to the cryptocurrency market. The data can be accessed here.

The significance of this record-breaking influx lies in the nature of accumulation addresses. These addresses are often associated with long-term investors and institutions that are strategically accumulating Bitcoin over an extended period. The absence of outgoing transactions and the requirement for a balance exceeding 10 BTC suggest a commitment to holding and storing significant amounts of the cryptocurrency.

The exclusion of CEX and miner addresses further refines the data, focusing on addresses associated with individual investors and entities actively participating in the broader cryptocurrency ecosystem.

Accumulation addresses have been closely monitored by industry experts as they provide insights into the behavior of long-term holders and institutional investors. The record-breaking net inflow on February 19 suggests that a substantial number of these entities are actively acquiring and holding Bitcoin, potentially indicating confidence in the cryptocurrency’s future prospects.

Read more:

Join us on Telegram

Follow us on Twitter

Follow us on Facebook

Follow us on Reddit

You might also like