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
- Coinmine One: Mining Becoming a Part of Everyday Life - Dec 27, 2019
- Blockchain Games: Huge Potential for Drastic Changes - Dec 23, 2019
- Lition: One Very Small Project Shows Big Opportunity - Dec 20, 2019
- Talent Growth System by Coinbase is Already Practiced by Global Giants - Dec 19, 2019
- Double-Spending: Potential Risks and Integrated Solutions - Dec 18, 2019
Know more than others on any Blockchain Party!
Join more than 5000 others to receive the breaking news and weekly summaries! No ICO spam, we promise.