CryptoQuant CEO: Whales are accumulating Bitcoin through privacy transactions, with approximately 240,000 to 420,000 BTC accumulators' identities unknown

2024-12-26 14:19:05

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ChainCatcher news, CryptoQuant CEO Ki Young Ju stated, "Whales are accumulating Bitcoin through privacy transactions. The annual number of CoinJoin transactions has tripled over the past two years. While some attribute this surge to hackers laundering money, Chainalysis reports that this year's total hacker losses amount to $2.2 billion, which is less than 0.5% of the $377 billion in Bitcoin realized market inflows.

In 2024, 1.55 million BTC flowed into accumulation addresses, mainly related to ETFs, MicroStrategy, and custodial wallets. Whales often transfer funds to emerging institutional investors through privacy transactions. Aside from the disclosed holdings, approximately 240,000 to 420,000 BTC remain with unidentified accumulators. Who are these whales?"

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