In the past hours, several platforms for analyzing wallets and blockchain addresses have published data and news about the re-accumulation of bitcoin whales.

Large bitcoin investors (who keep 100 to 1000 bitcoins in a single wallet) have increased the number of bitcoins they collect.

At the same time, so-called accumulation wallets (i.e. those who were recently active but did not spend any bitcoin) reached a new all-time high.

Bitcoin whales collect more bitcoins:

It is safe to conclude that there is a lot of uncertainty in the financial world today.

Humanity was focused on reducing the impact of the Corona pandemic as a threat to health, to change its focus to combating the rising inflation, after which attention turned to the war between Russia and Ukraine.

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Somewhat predictably, the first war in Europe since World War II caused major price turmoil in the cryptocurrency markets.

Initially, Bitcoin fell sharply before rebounding, and even made new gains, reaching the levels of $45,000.

The recent increase in crypto prices came after severe sanctions imposed by the West on Russia for its aggression, mostly related to its economy, which led to the collapse of the Russian ruble.

At the same time, Glassnode data showed that the number of Bitcoin addresses with more than 100 and more than 1,000 Bitcoins rose in a short period of time.

Taking into account the financial sanctions against Russia and the fact that cryptocurrency exchanges refused to ban user accounts in Russia, some have speculated that these increases in large bitcoin wallets were behind the world’s largest country in terms of geographical area, or at least related to events there.

Additional data from the blockchain analytics firm reported that the backlog of addresses has recently accelerated and reached a new all-time high.

According to Glassnode, these wallets have had at least two incoming transactions, have never spent any of their bitcoins, and have been active for the past seven years.

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It is worth noting that the company has excluded known addresses belonging to cryptocurrency exchanges or mining entities.

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