Glassnode records a surge in bitcoin accumulation by large wallets

The figure has increased to 40 000

17.11.2022 - 11:00

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What’s new? According to analytics company Glassnode, the number of bitcoin wallets with balances of more than 10 000 BTC increased significantly in November. Thus, the figure increased to 40 000. This is most likely due to a drop in the quotations of the asset. As of November 17, 10:40 UTC, BTC is trading at $16 44, down by 1,29% in 24 hours, according to Binance.

Source: Twitter.com

What happened before? Liquidations of short positions in BTC across all exchanges reached a year-high. Thus, on October 26, positions worth $331,8 million were liquidated.

According to Google Trends, the popularity of the search query “Bitcoin” rose to 100/100 scores in the past week. Notably, bitcoin hit a two-year low of $15 780 on November 10.

El Salvador’s President Nayib Bukele announced that starting November 18 the state would buy 1 BTC every day. This initiative was supported by TRON blockchain founder Justin Sun, who will also start investing in the asset on a daily basis.

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