The bitcoin rich list has recently seen 105 new wallets coming up with a balance of 8,000 BTC in each. The addresses, in total, are holding a whopping 840,000 bitcoins, which accounts for over 4.8% of the total coins in circulations, with the value at more than $3.2 billion.

The 105 addresses, currently taking the top spots of 123th to 229th, popped up on the rich list just in the past few days. They had bitcoins deposited in batches between Nov 30 to Dec 06, 2018.

Almost each transfer was made with 200 bitcoins moved in, after 40 deposits, the addresses collected 8,000 bitcoins and stopped there. As of the press time, the movement is still going on.

The movement occurs during the recent dip amidst the bear market, a period when the bitcoin price dropped down to $4,200 – $3,700, lows of the year.

These obviously visible transaction records seem to indicate that a whale, either an individual investor or institution investor, is buying the dip and splitting up the funds into multiple wallets. It means someone is increasing his BTC holding at this timing, which delights depressed investors, for they believe a temporary upward momentum was just around the corner once the whale starts some actions.

Considering institutions like Bakkt and Fidelity have launched platforms for their institutional clients to have easy access to cryptocurrency trading, the speculation above is not impossible.

While the movements were made in a very regular way with the same amount in each address, which also points to the possibility that maybe an exchange is moving its users’ funds into cold storage wallets in an effort to keep them secure.

This bitcoin massive movement is not the only case in cryptocurrencies in these days, litecoin network was also reported to have witnessed 41 wallets containing 300,000 LTC each come into the rich list recently, which accounts for a more astonishing 20.69% of the total litecoins in circulation.

According to research from Diar, the 500 actively-traded Ethereum addresses have accumulated massive amounts of ether during 2018, growing their ETH holdings by 80 percent since January – more than any other period in Ethereum’s history…