The appetite of investment institutions to the cryptocurrency market brought the total market value of the market as a whole to record levels above $ 2.4 trillion.
An analytical graph provided by data collection and analysis platform Glassnode shows that Bitcoin supply stored in the range of 100-1000 Bitcoin is rising again.
Institutional investors acquire more bitcoins:
A Glassnode report shared by Moskovski Capital’s chief of information department shows that bitcoin wallets containing 100 to 1,000 bitcoins are increasing again in number after dropping slightly in April.
“Lex Moskovsky” explains that the range of 100-1000 Bitcoin wallets is for financial institutions by virtue that the latter uses a specific protocol to store funds on security and storage platforms, such as “CoinBase” and “BitGo” that were recently purchased by Galaxy “Digital” …
Lex also specifies that CoinBase stores the money in its custody wallets and divides it into 100-120 Bitcoin units.
Lex believes this is a resumption of growth and which is bullish news for Bitcoin.
Earlier press reports appeared about the transfer of a large amount of Bitcoin, estimated at 12,234 Bitcoin, this amount was withdrawn from the trading platform “Coinbase”, and it is possible that those behind this amount of Bitcoin are institutions.
The large amount converted from Bitcoin was equal to $ 688.3 million.
The number of active Bitcoin addresses reaches their highest level in 3 months:
According to a recent tweet published by “Glassnode,” the number of active Bitcoin addresses increased to a three-month high of 65,659.
A similar previous rise was observed on February 9 of this year, which reached 65,525 titles.