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1 Comment
tldr; According to a CryptoQuant weekly report, large investors or “whales” are accumulating Bitcoin at a pace similar to before the 2020 bull run, with daily injections of $1 billion into Bitcoin and a significant increase in holdings. Spot Exchange-Traded Funds (ETFs) in the U.S. are driving record Bitcoin holdings, indicating growing institutional investment. Ethereum demand is also rising, with whales holding a record 16 million ETH. However, the report cautions that decelerated growth in Tether’s USDT stablecoin could hinder a sustained price rally for Bitcoin.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.