The current decline of Bitcoin and other cryptocurrencies is viewed differently by whales as an opportunity to strengthen and buy more.
The data published by the platform showedBitinfocharts“The third largest bitcoin whale buys more bitcoins as the new year begins.
According to the data, the third largest bitcoin address added 456 bitcoins with an average price of $46,363 on January 4.
The value of the last transaction was estimated at about $21 million.
This is the first big buy for this entity who also bought 6 bitcoins 55 minutes before the start of the new year.
At the time of writing this article, this whale that ranks third in bitcoin ownership has 120,845.57 bitcoins, worth over $5.6 billion.
This whale appears to have taken full advantage of the current choppy price action.
Bitcoin price is down 1.25% in the past 24 hours and 4.9% in the last week, while Bitcoin price is currently trading at around $46,611.
This has lowered the dominance of bitcoin, an indicator that tracks bitcoin’s share relative to the entire market’s share below 40%.
Despite this, the alternative digital currencies were not spared from the recent decline of Bitcoin below the level of 47 thousand dollars, as it accompanied its decline, and the rates of decline varied from one currency to another.
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