Bitcoin whales are stocking up, with “millionaire” addresses accumulating around 90,000 Bitcoin worth $367 billion over the past 25 days.
The accumulation was identified by crypto market data aggregator Santiment, which identified that wallets holding between 100 and 10,000 BTC — described by Santiment as “millionaire tier” addresses — are now the largest segment of Bitcoin hodlers and currently account for 48.7% of Bitcoin's supply.
Vechain ascended above the resistance line of a symmetrical triangle that took shape early last week. This indicates the bears are still attempting to bring the price down, but the bulls remained strong enough to stage a corrective rally. Today’s daily chart is bullish, painted by green candlesticks since the early trading hours.
The early breakout crashed a bearish flag that had formed on yesterday’s chart towards the end of the day.
This week, there was a decent recovery wave in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC formed a support base above the $150 and $155 levels.
It started a fresh increase and climbed above the $165 resistance zone. There was also a break above the $175 resistance zone and the 55 simple moving average (4-hours). However, the bulls faced a strong resistance near the $180 zone.
The World Bank has refused El Salvador’s request to help the Central American country’s transition to adopt Bitcoin as legal tender. El Salvador recently passed a law authorizing the world’s leading cryptocurrency bitcoin as legal tender in the country. The Central American country’s move into bitcoin received praise from the crypto community, but it did not impress global regulators. El Salvador is the first country in the world to officially recognize bitcoin as legal tender.
The Beijing-based ASIC mining rig manufacturer Canaan announced the sale of 10,000 bitcoin mining machines to the firm Genesis Digital Assets Limited. Canaan plans to deliver the 10,000 A1246 and A1166 Pro Avalonminers by the end of the month.
Cardano (ADA) is attempting to recover from yesterday’s bearish close that saw it crush below the $1.56. The coin has been hovering between $1.33 and $1.94 since the beginning of the week. Yesterday, the bulls got rejected slightly above the 20-day exponential moving average at $1.560 after staging a massive recovery from a daily low of $1.470. ADA’s relative strength index is lying towards the overbought region after testing the neutral zone, this suggests incoming buyers.
Switchere.com, an EU-based online crypto exchange, has recently enabled crypto exchange operations (buy, sell and swap) without obligatory ID verification. Now platform users can register an account on the website, provide some basic info for order processing and make crypto exchanges with an upward limit of $150 / €150.
According to IOHK CEO Charles Hoskinson, Tesla should ditch bitcoin en masse and instead turn to the world’s fifth most valuable token, Cardano (ADA). During a podcast by MIT researcher Lex Fridman, Hoskinson explained why he believes Cardano is far superior to bitcoin.