Lately, I've been noticing that the number of coin wallets holding over 100 BTC has exceeded 20,000. Looking at data from Santiment, these wallets are worth at least $6.78 million each, which means they are mostly held by institutional investors or large-scale investors.

The increase in these large coin wallets suggests that Bitcoin isn't concentrated among just a few whales anymore, but is becoming more widely distributed. In fact, the proportion of total supply held by these major holders hasn't increased dramatically, and the price has been relatively stable. This indicates that more players are reaching whale-level holdings.

Historically, an increase in the number of large coin wallets is often associated with a accumulation phase. It could be that small investors are offloading assets into institutional hands, or it might be a preparatory period for future price increases. For now, it's a wait-and-see situation, but this trend is worth paying close attention to.