Bitcoin (BTC) network activity has been increasing as the leading cryptocurrency battles to surpass the $30,000 mark. According to Ali, a popular crypto trader, approximately 512,000 new addresses have been joining the network. This could lead to a promising rise in the cryptocurrency's price, further validating its current status as the industry's leading coin.

Furthermore, another blockchain analytics firm, Santiment, noted that a whale address recently received a 23,500 BTCs transaction with a value of around $710 million at the time of the transfer. Interestingly, this is the fourth largest recorded transfer of the year so far, showcasing the increased interest and activity in the cryptocurrency. This large move is believed to become increasingly common as BTC approaches the $30K mark.

The snapshot of the recipient whale's BTC holdings after the transfer revealed that the address now holds $742.2 million in the digital currency. At present, the coin's price is currently just below the $30K barrier at $29,922.69, and has dropped by 0.39% in the last 24 hours. BTC is still in the green for the week as its price has increased by 4.67%. Additionally, the coin tops CoinMarketCap’s trending list, making it the leading cryptocurrency when it comes to trading.

It is worth noting, however, that investors should always do their own research and due diligence before making any transaction. Such decisions should be taken at their own risk and with no implied guarantees of success or profitability.



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