This article was originally posted on CoinStaker.
HODLing has always been ridiculed by some investors, and seen as a saving grace by others. It’s completely natural that a lot of people wanted to make a quick profit out of bitcoin and the biggest HODLers had the resources to accumulate large amounts of cryptocurrency without selling even during the $20K peak.
Exchanges are the biggest #HODLers
6.7% (~$9.8B) of all #BTC in circulation is currently held on exchange wallets
Through price rallies & crashes, we see that the stockpile of $BTC on exchange wallets has consistently been increasing.
— TokenAnalyst (@thetokenanalyst) October 8, 2019
According to The Token Analyst, the biggest HODLers are accounts belonging to 8 major crypto exchanges.
The graphic in the post shows that throughout bitcoin’s relatively short lifespan, the amount of BTC accumulated by crypto exchanges has been steadily growing.
The biggest HODLers will make massive profits
By the Token Analyst’s estimations, which are based on historical and real-time blockchain data, there are roughly 1.2 million bitcoins held in the wallets of 8 major crypto exchanges. These 8 exchanges are without a doubt, the biggest HODLers and they stand to score incredible profits when bitcoin inevitably breaks the $20K record.
It seems that at the moment, Huobi Group is the crypto exchange with the most bitcoins. The battle for second place is very close between Binance and BitMEX.
Most people are unaware, but the word “HODL” was first seen roughly 6 years ago. This was around the time where bitcoin began to rapidly crash after barely touching $1000.
The word has since then been used mostly as a recommendation to wait with the sale of digital assets in times of FUD. GameKyuubi is the person who first used the word and it was actually a misspell of the word “hold”.
You can also check out:
- Shadow Banking Can be Created by Facebook’s Libra
- Offline Transactions Will be Pivotal for Mass Adoption
- TOP ICOs of 2018: Initial Coin Offerings That Beat the Bear Market
- Number One Blockchain by 2020: NEO’s Founder Speaks Boldly
The post Biggest HODLers in Crypto Revealed: Crypto Exchanges appeared first on CoinStaker | Bitcoin News.