in

Bitcoin holders have been increasing their holdings since the Luna crash

Bitcoin holders have been increasing their holdings since the Luna crash

Crypto-currencies are making a comeback after the events of recent months. Just as the encryption sector seemed to be about the historic collapse, digital assets are falling apart and going back in the saddle. An example of this is the purchase of 250,000 bitcoins by long-term holders following the collapse of the LUNA ecosystem.

Bitcoin launches hit an all-time high

Cryptography is an area that is gaining ground and gaining new sympathizers every day without even understanding it. While the downturn in the markets is not finished talking, some investors are still positive in cryptocurrencies.

Since the collapse of the LUNA ecosystem, many holders have only one idea: to sell certain high – risk cryptocurrencies. But not only! For some time now, we have noticed an exaggerated sale of bitcoin tokens. While sellers think they are using the best solution, analysts think their method is far from the best.

For JP Morgan and CEO of Celsius Network for example, repetition is possible soon and the price of the crypto flagship could reach $ 38,000. This vision seems to be shared by some people since since May 7, the balance of certain BTC addresses has been steadily increasing.

This is due to the purchase of 250,000 bitcoins by the holders of the crypto. According to the on-chain data company, the balance of these wallets now stands at 12.73 million bitcoins.

Massive purchase of bitcoin following LUNA ecosystem crash

The price of almost all cryptocurrencies dropped significantly a few months ago. Since the Terra crash (LUNA), many cryptos have turned red and lost much of their value. While some like Shiba Inu were threatened with extinction in the coming years, others like bitcoin were pulling a scary downward curve.

After falling below $ 30,000, the crypto, which had been about $ 70,000 a few months earlier, was struggling to raise its price. However, since May 7, there has been a massive acquisition of bitcoins. A statement from the IntoTheBlock team indicates that the addresses of these wallets bought 250,000 bitcoins.

The question that bothers everyone is how did this happen? In fact, buying bitcoins started right after Terra decided ” lend its reserve of bitcoin to market brands“. In order to support attachment a coin stablethe Luna Foundation Guard has put nearly $ 1.5 billion worth of bitcoin into the market.

The 25,000 bitcoins purchased represent an exchange rate of 7,955,425,000 dollars. As a result, the total wallet value of these holders amounts to $ 405,090,241,000,000.

The collapse of Terra (LUNA) may be a good thing for some crypto holders. As the ecosystem searches for a way to connect its partcoin stable, other investors see it as a way to make gains. The purchase of bitcoins dumped on the market by the foundation behind the LUNA token strengthens the financial potential of certain investors and the crypto flagship.

Source: U.Today

Get a summary of news in the world of cryptocurrencies by subscribing to our new daily and weekly newsletter service so you don’t miss any of the essential Cointribune!

User Image

Eddy Senga

Passionate about cryptos and the blockchain, I want to introduce this universe to those who do not know yet, and encourage them to embrace it just like me.

Bitcoin crash again?  BTC miners are now selling their possessions

Bitcoin crash again? BTC miners are now selling their possessions

Bitcoin bond still pending, El Salvador accused of human rights abuses

Bitcoin bond still pending, El Salvador accused of human rights abuses