Chainanalysis report – Bitcoin Whales not causing price volatility

Chainanalysis looks at Bitcoin Whales, (Non Exchange wallets that hold 1 million BTC), and finds they are distributed as follows :

Traders – 33.1%

Miners, Early Adopters, Hodlers -33.1%

Criminals – 12.5 %

Lost – 21.2%

They conclude that given their taxonomy, only traders are actively buying and selling, and whales are not contributing to the volatility of prices.

Source : Chainanlysis Blog