Bitcoin Whales Are Alive: Mean Transaction Volume At 7-Month High – Benzinga – Benzinga

The world's first cryptocurrencyBitcoinBTC/USD is seeing its whales cryptospeak for large holders come to life, with mean transaction volume on its blockchain reaching a seven-month high.

What Happened:The seven-day moving average of Bitcoin's mean transaction volume just reached a seven-month high of 25.66 BTC meaning that the average transaction processed over the last seven days would now be worth well over $923,000, according to Glassnodedata.

See Also:How To Earn Free Crypto

The news follows reports that Bitcoin isrefusingto realign its price with the stock-to-flow (S2F) model just as itreaches halfway to the next halvingthat will cut its inflation rate once again now standing at just 35.6% of the price estimated by S2F. Despite this, adoption continues to grow with Horacio Rodriguez Larreta the Mayor of Argentina's capital city and chief port Buenos Aires currentlylookingto have the city adopt cryptocurrencies such as Bitcoin in the city.

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Bitcoin Whales Are Alive: Mean Transaction Volume At 7-Month High - Benzinga - Benzinga