Bitcoin market transactions have shown significant dynamics, notably in the growth of CoinJoin transactions, which have tripled recently. Experts relate this trend to private accumulation and the increasing involvement of big players.
The Rise of CoinJoin Popularity
According to CryptoQuant, private CoinJoin transactions have notably increased. Chainalysis suggests this rise is more tied to trends within the Bitcoin ecosystem rather than illicit activities.
Private Accumulation by Big Investors
CryptoQuant CEO Ki Young Ju noted that whales are buying Bitcoin through stealth purchases using privacy-enhancing methods. This is linked to institutional investors like ETFs and companies like MicroStrategy accumulating Bitcoin at anonymous addresses.
Unknown Bitcoin Holders
It is estimated that between 240,000 and 420,000 BTC are held by unknown parties. This indicates a preference for privacy among private individuals positioning themselves in the market.
The rise in CoinJoin transactions and secretive accumulation by major investors highlight how the Bitcoin market is adapting to secure privacy in response to institutional interest.
