In the structure of the on-chain value transferred, 65% consists of Bitcoin transactions valued at $1 million and above. Such calculations were made by Glassnode analysts.
#Bitcoin transfer volumes continue to be dominated by institutional size flows, with more than 65% of all transactions being larger than $1M in value.
The uptrend in institutional dominance in onchain volumes started around Oct 2020 when prices were around $10k to $11k. pic.twitter.com/tTbMEuIriB
— glassnode (@glassnode) January 27, 2022
Experts noted that the trend began in October 2020, when the price of the first cryptocurrency hovered in the $10,000–$11,000 range.
Growth in institutional clients to digital gold is traceable also in the inflows into funds based on digital assets.
Earlier, Glassnode analysts stated that the share of long-term holders in the total Bitcoin supply exceeded 80%.
In November, the financial conglomerate Citigroup announced the launch of a crypto-focused division within its institutional client services group.
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