The number of whales on the Bitcoin ($BTC) network, defined as wallet addresses that hold 1,000 or more BTC, has dropped to its lowest level since August 2019, at a time in which the price of the flagship cryptocurrency seems to be recovering from last year’s plunge.
According to data from crypto analytics firm Glassnode, first spotted by Decrypt, there were 2,027 whale addresses on February 19, down from a peak of around 2,500 whale wallets in February 2021, when the price of the flagship cryptocurrency was close to the $50,000 mark.
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