Bitcoin Investors Sees Significant Investment in a Month Amid FTX Breakdown

Tidio Live Chat Software - Add Tidio live chat software to your website in minutes. Contact visitors and turn them into happy customers. Enhance their experience and boost your sales. Get it for Free

WP Rocket - WordPress Caching Plugin

Must Read

Yusuf Balogun
Yusuf Balogun
Yusuf is an aspiring Journalist and Health law expert with a special focus on technology innovations. He is a writer at Right for Education, Libertist Centre for Education, Qwenu, and Editor at Gamji Press, UDUS.

This month, one of the industry’s titans saw one of the most spectacular crashes, which raised questions about the outlook of investors and the market as a whole. On-chain data, however, reveals that retail investors have kept accumulating bitcoin with a greater desire. According to Glassnode and other analytical tools, Bitcoin shrimps are objects capable of carrying up to one complete BTC. 

Historically, demand for these wallets peaked during bull cycles when the asset’s price was rising quickly. BTC has certainly been in a bear cycle state for the past few months, despite the fact that there is still no clear community consensus on whether the asset has bottomed out yet. However, these entities started building again this month, right about when the FTX collapsed. They actually increased their balance by an all-time high of 96.2K BTC in the last several weeks. 

Also Read

In a recent report, the corporation claimed to own more than 1.21 million BTC or roughly 6.3% of the total amount in circulation. Similar circumstances apply to bitcoin crabs, up to 10 BTC. Over the past 30 days, their balance has aggressively increased by 191.6k BTC, surpassing the all-time accumulation peak reached in July 2022.

Glassnode issued a warning, however, pointing out that bitcoin whales have been reducing their holdings by selling 6.5K BTC to exchanges throughout the same time period. The analytics tool noted that this distribution is still quite minor in comparison to their 6.3 million BTC overall holdings.

Elegant Themes - The most popular WordPress theme in the world and the ultimate WordPress Page Builder. Get a 30-day money-back guarantee. Get it for Free

Tom Lee described 2022 as a terrible year that started with price declines brought on by macroeconomic factors, took a further hit after the Terra crash, got worse as a result of multiple firms filing for bankruptcy afterward, and concluded with FTX. Everything began with a balance sheet leak that revealed Alameda and FTX had excessive exposure to the latter’s native coin. Binance was motivated to sell its FTT holdings as a result of this.

From that point on, everything started to fall apart quite quickly, with Alameda attempting to purchase Binance’s shares for less, individuals losing faith and attempting withdrawals, and SBF claiming that the assets were secure when they weren’t. A few days later, after Binance pulled out of a proposed acquisition transaction, FTX, Alameda, and other subsidiaries were forced to file for bankruptcy.

Since then, a number of reports have surfaced explaining what went wrong with SBF’s empire, but the majority demonstrate how poorly it was managed. While all of this was happening, the market valuation for cryptocurrencies lost $200 billion, and prices fell. This could drive away some investors, but it appears that regular investors and their BTC holdings are in a different situation.

iThemes WordPress Hosting

Stay updated

Subscribe to our newsletter and never miss an update on the latest tech, gaming, startup, how to guide, deals and more.



- Advertisement -
- Advertisement -


Grow Your Business

Place your brand in front of tech-savvy audience. Partner with us to build brand awareness, increase website traffic, generate qualified leads, and grow your business.

- Advertisement -

Grow Your Business

Get these business solutions, tools and services to help your business grow.

Elementor -Join 5,000,000+ Professionals Who Build Better Sites With Elementor. Build your website with 100% visual design that loads faster and speeds up the process of building them.

WP Rocket

WP Rocket - Speed up your website with the most powerful caching plugin in the world. The website speed increase means better SEO ranking, user experience, and conversation. It’s a fact that Google loves a fast site.


Kinsta - If you are looking for WordPress managed hosting, Kinsta is in the leading front. Kinsta provides WordPress hosting for a small or large business that helps take care of all your needs regarding your website with cutting-edge technology.


OptinMonster - Instantly boost leads and grow revenue with the #1 most powerful conversion optimization toolkit in the world. 700,000+ websites are using OptinMonster to turn their traffic into leads, subscribers, and sales.


- Advertisement -
- Advertisement -
ChatGPT Reaches 100 Million Users in Two Months Microsoft’s Teams Get OpenAI-Based Features WhatsApp New Feature that Allows Users to Create Calling Shortcuts Instagram Working On Twitter-like Paid Verification Feature OnePlus Ace 2 Specs Exposed Online Realme GT Neo 5 Full Specs Revealed  Samsung Galaxy S23 Ultra: The New Android King Twitter To End Free API February 9 MLS Season Pass Now Available On Apple TV App Tesla To Increase Giga Shanghai EV Production to 20,000 Weekly 
OpenAI Releases Tool To Detect AI-generated Text Tesla Records Double Net Profit in 2022 India to Produce Upcoming iPhones: Trade Minister Japanese Professor Developed A Power Semiconductor made of Diamond Google Releases New Product for India’s Merchants Indian EV Startup Unveil Two AutoBalancing Electric Scooters OPPO Find X6 Pro Images Render via Weibo Sony Develops New Tech to Reduce Noise of Image Sensors