Whales are amassing stablecoins, hinting at a potential surge in Bitcoin accumulation. With growing user numbers and mixed price signals, crypto markets anticipate a transformative shake-up.
and USDP, on 12 July. Santiment’s distribution supply chart, which tracks the range between 100,000 and 100 million coins, recorded increased stablecoin holdings. In the case of DAI, approximately 2% of its entire supply has been added since 27 July.
Another metric that is likely to experience an uptick once the accumulation begins is the number of holders. According to data from Santiment, the total number of holders has been steadily increasing since the beginning of the year. Notably, the chart suggested that more holders were added as the price of
rose. Currently, the total number of holders is nearly 48 million, showing no signs of a downward trend as of this writing.revealed that the price briefly surpassed the $31,000 mark but ultimately closed at $30,486, incurring a loss. As of this writing, Bitcoin was trading near $30,600, exhibiting a modest gain of less than 1%.The overall trend appeared to be predominantly sideways, with key support levels identified around the $29,000 and $28,000 price ranges.
The Moving Average Convergence Divergence indicator showed a bearish divergence. Simultaneously, the Relative Strength Index indicated a bullish trend at the time of writing.
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