Bitcoin whales have broken a pattern that was previously held through the halving cycles, according to on-chain data from Glassnode. The cycles for the cryptocurrency have been defined using halving events, which are periodic blockchain events that permanently cut in half the block rewards that miners receive for solving blocks. These events occur every time 210,000 blocks have been mined on the network, or approximately every four years. The number of whales had continued to increase in number, but their percentage growth had been diminishing with each cycle. However, the current cycle is displaying an interesting deviation from the rule followed during the last few cycles, as the growth in the number of whales has actually been stronger than the previous epoch this time. Whales have grown by 98% since the start of the cycle, but there are still around 344 days to go before the next halving event. At the time of writing, Bitcoin is trading around $27,000, down 2% in the last week.
About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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