The Third-biggest BTC whale added $21 million worth of BTC at a price of $46,363 as we are reading more in today’s Bitcoin news.
It seems that the third-biggest BTC whale is back after the new year holidays and made a huge buy at the start of 2022. the data from Bitinfo charts shows that the third-biggest BTC address added 456 BTC at an average price of $46,363 worth roughly $21 million. This Is the first considerable buy on behalf of an entity that also purchased 6 BTC an hour before going into the new year.
At the time of writing, the whale holds 120,845 BTC worth over $5.6 billion and it seems that this whale is taking full advantage of the choppy price action that bitcoin has been going through. Bitcoin is down by 1.7% in the past 24 hours and 8.9% in the past week as it is now trading near $46K. This also caused the BTC dominance that tracks the share relative to that of the entire market to drop below 40%.
As recently reported, Bitcoins are now as secure as ever after the network’s hashrate surged to a new all-time high of 203.5 exahashes per second as per the data from Bitinfocharts. Hashrate refers to the total combined computational power used to mine and process transactions. The higher the hashrate, the more secure the network is as the computing power required to attack also rises. Over the past year, Bitcoin’s hashrate increased by 49% from the 136.
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5 EH/s recorded on January 2nd, in 2021
The growth is even more impressive a 199.2% when compared to the values in July last year when the Hashrate dropped as low as 68 EH/s following China’s crackdown on the mining industry. The network was on a steady rebound ever since with a few BTC mining operators relocating to other jurisdictions like Kazakhstan and the US. In the meantime, Bitcoin mining difficulty as a measure of how difficult it is to mine new coins is projected to increase by another 2.57% and according to BTC.com, this would be a huge distance from its previous high recorded in May, according to the platform btc.com.
Also, Hong Kong’s Bitcoin Association was the first to celebrate the Genesis Day as the Asian markets started trading in the first week of 2022. The Association added that it will be a good time to make sure that all of your bitcoins are in a wallet that you control in terms of private and public keys. The date is also known as the Proof of Keys celebration as BTC pioneer Trace Mayer suggested. The proof of keys website celebrates the annual event encouraging Bitcoin holders to take control of their assets.
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