Data presented by cryptocurrency trading simulator Crypto Parrot indicates that 36% of the top 100 richest Bitcoin addresses recorded an inflow of 354,381 BTC worth $12.77 billion. The inflow was between December 11, 2020, and January 11, 2020.

Fewer whales are looking to sell-off

The figure is at least 17 times more compared to the amount of Bitcoin sold by other addresses in the top 100 category. Only 8 out of the 100 addresses sold 20,333 Bitcoin worth $660,59 million during the period. The remaining 56% of the addresses did not record any change.

Crypto Parrot researchers explained the possible reason for the activities by the top 100 rich addresses. According to the research report:

“While more whales are adding to their assets, it seems fewer whales are looking to sell-off. The 56 addresses did not move their Bitcoins. Bitcoin’s price was increasing due to high demand, and there was relatively little bitcoin available to buy. Furthermore, the lack of movement in these wallets indicates they might belong to investors who are betting on further price growth in the future.”

The highlighted rich Bitcoin addresses activity occurred during a period the asset attained an all-time high of above $41,000 on January 8th after shrugging off earlier price volatility. By the time of writing, the digital asset was trading at $36k levels.