On-chain data from Glassnode shows the Bitcoin whales have recently broken a pattern that was previously held through the halving cycles.
Bitcoin Whale Growth Had Previously Been Diminishing With Each Cycle
According to data from the on-chain analytics firm Glassnode, the current cycle is displaying an interesting deviation from the rule followed during the last few cycles.
Here, the cycles or the “epochs” for the cryptocurrency have been defined using the halving events. “Halvings” are periodic blockchain events that permanently cut in half the block rewards that the miners receive for solving blocks.
These events occur every time 210,000 blocks have been mined on the network, or approximately every four years. The reason they are generally selected as the start and end points for BTC cycles is that they carry profound impact on the economics of the market as the production rate of the asset is cut in half following them. This increase in the scarcity of the asset is a narrati
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