In general, a cryptocurrency whale of information it provides, Etherscan between their own wallets, or to smaller cryptocurrencies where just moving their funds from a hot wallet to cold storage.
Utilizing this metric, which counts unique entities possessing at least 1, BTC, offers nuanced insights into market power dynamics. In this evolved market, we have highlighted that the total balance held by Whale entities has been decreasing over Bitcoin's history, consistent with the Relative Address Supply Distribution metric below. If we break it, we could go down to 34k. Jul 30, pm. This shift diminished the market influence of Bitcoin whales, signifying a matured Bitcoin ecosystem characterized by higher liquidity, price stability, and varied market participation.