Crypto Market Trades Sideways, More And More “Bitcoin Whales” Bitcoin Volatility Increases — The Crypto2Cash Chronicle
Today’s most important and market moving crypto news, brought to you by the Crypto2Cash team
Crypto Market Trades Sideways
Most top 20 cryptocurrencies have been trading sideways over the last 24 hours, often noting a small price decrease between 0.1 and 1 %. Bitcoin has been slowly drifting away from the $9,000 mark it has yet to break this year, currently trading $8,620, noting a loss of 1.10% on the day. Top performer was IOTA, up by 14.11%. IOTA was created back in 2017 and has been slowly creeping up the list of the largest cryptocurrencies, currently sitting in the 15th spot.
More And More “Bitcoin Whales”
A study conducted by Diar.co, a weekly Cryptocurrency research newsletter, has shown, that the amount of “Bitcoin Whales”, holding between 1k and 10k Bitcoin on a single wallet, has sharply increased. In August 2018, when Bitcoin was at a similar price than now, around 20 percent of circulating supply was held by these Whales, this number increased to 27 percent. The number increased the most in December 2018, when Bitcoin bottomed at $3,200, during this time, many large scale investors started buying Bitcoin for the first time. Another interesting observation made by Diar is, that almost 40 percent of all newly minted coins go to these Whales, an increase of again 10 percent.
Bitcoin Volatility Increases
At the start of 2019, Bitcoin daily volatility was at an all time low and the average was under 2 percent from January to March. However, with the large price increase during the last two months, the average volatility more than doubled an broke past levels last seen in December of last year.
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