On-Chain data from Glassnode has shown that Bitcoin whales have recently broken a pattern that had been maintained during previous halving cycles. Until now, the growth of Bitcoin whales had decreased with each cycle. Halvings are periodic blockchain events that halve the block rewards miners receive for solving blocks, making the asset even scarcer. The next halving is set to take place in H1 2022. Currently, miners receive 6.25 BTC for each block they mine, but after the next event this will be halved to 3.125 BTC. The growth of whale numbers during the current cycle has increased by 98%, indicating a deviation from established patterns. In previous cycles, the number of whales had increased, but the rate of growth had fallen with each cycle. This suggests that the number of whales has increased in each cycle, but the percentage growth has decreased. However, the trend during the current cycle has shown a stronger growth in whale numbers than in the previous cycle. At the time of writing, Bitcoin is trading at around $27,000, having fallen by 2% in the last week.
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