Ukuhlaziywa Kwe-On-Chain kwe-Bitcoin: Yini Ama-Whale Akhombisa?

Emhlabeni ohlala ushintsha we-cryptocurrency, i-Bitcoin isaqhubeka nokuba yinkosi engaphikiswa. Kodwa ngaphansi kobuso bezibalo zentengo kanye nezikhangiso zomakethe kukhona umthombo wezinsiza ulindele ukuvulwa—ukuhlaziywa kwe-on-chain. Le thuluzi elinamandla lisivumela ukuthi sibe nokuqonda okuqondile kwi-blockchain, kukhombisa ukuziphatha nezinhlelo zabadlali abakhulu, ikakhulukazi lezi ezibizwa ngokuthi “ama-whales.” Lezi abaphezi abakhulu beBitcoin bangakwazi ukushintsha imakethe ngentengo eyodwa, futhi ukuqonda ukuthi izenzo zabo zisho ukuthini kungaba yinto ebalulekile phakathi kokuhamba phambili noma ukuthola ubunzima.

Njengoba sishaya u-2025, lapho iBitcoin ibhalela cishe u-$112,000 phakathi kokushintsha okungazelelwe, indima yamagagasi ayikaze ibaluleke kangaka. Ku-Exbix, imakethe yethu ye-cryptocurrency, sikhuthaza abathengisi ukuthi bangaphuthelwa. phendula kuphela kulezi zinyathelo kodwa futhi uziqagulele. Noma ngabe uhlose ukuhweba nge-BTC/USDT kudeskithophu yethu elula noma ukuhlola izinketho zokubambisana ukukhulisa izimpahla zakho ngokuthula, ukuqonda izinkomba ezikwi-chain kubalulekile. Kulokhu kuhlaziywa okubanzi, sizohlola ukuthi ukuhlaziywa kwe-chain kusho ukuthini, ukuthi abashayeli bempahla (whales) bangobani, izinkomba ezibalulekile abathinta, amaphethini emlandweni, ukuthrendwa okwamanje kuze kube ngu-Agasti 2025, nokuthi ungawasebenzisa kanjani la maphuzu ezinkundleni ezifana no Exbix.

Iyini Ukuhlaziywa Kwe-On-Chain?

Ukuhlaziywa kwe-on-chain ngokuyinhloko kuwukutadisha kwedatha eqoshwe ngqo ku-blockchain. Ngokungafani nezimakethe zezimali ezijwayelekile lapho iningi lemisebenzi kwenzeka ngaphandle kwe-ledger, ubunjalo obucacile be-Bitcoin buphakamisa ukuthi yonke ukuthengiselana, ibhalansi ye-wallet, nokudluliswa kungenziwa kuqinisekiswe publicly. Le datha ihlinzeka ngokuqonda ngesidingo nokunikezwa dynamics, umuzwa wabatshalizimali, kanye nezinguquko ezingaba khona zentengo ngaphandle kokuthembela kuphela ezindabeni ezikhaliphile noma kumashadi wezobuchwepheshe.

Cabanga ngakho njengokubala kwezezimali kwe-crypto. Amathuluzi afana ne-Glassnode, CryptoQuant, kanye ne-IntoTheBlock ahlanganisa le datha abe yizilinganiso eziveza amaphethini. Isibonelo, ukulandela inani lamakheli asebenzayo noma ivolumu yokuhweba kungakhombisa ukukhula kokwamukelwa noma ukuthengiswa okuseduze. Ngo-2025, ngokubandakanyeka kwezimali ezinkulu kuphakathi kokuphakama okuphezulu—ngokubonga ama-ETFs kanye nokucaciswa kwemithetho—idatha ye-on-chain iye yaba yinkimbinkimbi kakhulu, ifaka phakathi ukubikezela okuqhutshwa yi-AI nezexwayiso zesikhathi sangempela.

Kungani lokhu kubalulekile ku-Bitcoin ikakhulukazi? I-blockchain ye-Bitcoin iyona endala futhi ibhekwa kakhulu, okwenza kube yindawo yokuhlola eyigugu kubahlaziyi. Imithetho njengoba kuqondwa inani, umphumela wokuchitha inzuzo (SOPR), kanye nesikhathi esijwayelekile semali sisiza ukukala ukuthi abanikazi bathola inzuzo noma baphokophele okungaphezulu. Kodwa izinkanyezi zangempela zalesi sikhathi yizinkanyezi ezinkulu—lezi zinto ezimangalisayo ezinyathelisa izinqumo ezingashintsha isisindo.

Bani Abantu Abakhulu Be-Bitcoin?

Abantu abakhulu be-Bitcoin bangabantu noma izinkampani eziphethe inani elikhulu le-BTC, ngokuvamile 1,000 BTC noma ngaphezulu (okulinganiselwa ngaphezu kwe-$112 million ngamanani wamanje). Bangaba abathengi bokuqala, abatshalizimali bezikhungo njengeMicroStrategy, noma ngisho nohulumeni abaqhubeka nokwakha izinqolobane. Ngonyaka ka-2025, sibe nesinguquko: ama-whale manje ahlanganisa abahlinzeki be-ETF kanye nezikhwama zokuhweba, engeza izendlalelo zobunzima ekuziphatheni kwabo.

Ama-whale awagcini ngokuba nabantu abaqoqayo; bangabadlali abahlelelekile. I-Their izigidi—ngaphezu kwamakhulu emibili—zingadala imiphumela ezinkampanini zokushintshanisa. Isibonelo, uma umgibeli efaka izimali ezinkulu endaweni yokushintshanisa, kungase kube uphawu lokuthi uhlose ukuthengisa, kukhuphule ukuhlinzeka futhi kungenzeka kwehlise amanani. Ngokuphambene, ukukhipha ukuya kumagazini abandayo kukhombisa ukubamba isikhathi eside, kunciphisa ukuhlinzeka okukhona futhi kusekela ingcindezi yokukhuphuka.

Ezinkundleni ezifana ne-Exbix, ukubhekelela imisebenzi yamahhashi kungasiza ekwenzeni izinqumo zokuhweba. Uma ubona ukuthi kungenzeka kube nokuphuma kwamahhashi, ungazivikela ngokuhweba nge ama-pair e-BTC/USDT. Noma, uma ukuhlanganiswa kubonakala, cabanga ngokuqhuba ukubeka izimpahla zakho ezihlobene ne-BTC  ukuze uthole izinzuzo ezinzile ngenkathi ulinda ukuthi ibhulu likhuphuke.

Izilinganiso Eziyinhloko Zokulandela Ama-Whale

Ukuze siqonde lokho ama-whale akusho, rely on several core metrics. Ake sikwandise, ngezicelo zangempela ze-2025.

1. Inani Lezikhwama Zama-Whale Nokuhlanganiswa Trendi

Imethrikhi eyisisekelo ingu- inani leziqinisekiso eziphethe 1,000+ BTC. Ku-Q1 2025, leli qembu lenyuke ngama-5%, libonisa ukwethenjwa phakathi kokungazinzi. Amathuluzi afana neCryptoQuant alandelela “ukuhlanganiswa kweziqhamo,” lapho ukwanda kulezi zikhwama kuvame ukuhamba phambili kwezikhukhula. Isibonelo, uma izikhwama zeziqhamo zanda ngesikhathi amanani ehla, kukhombisa ukuthi bathenga phansi—okukhuthazayo sign.

Ngomhla ka-Agasti 2025, idatha ye-on-chain ikhombisa ama-whale eqoqa nakuba i-Bitcoin ihluleka ngaphansi kwama-$111,000, nenhlangano eyodwa ifaka ama-455 BTC anenani le-$50.75 million ezinsukwini eziyi-20 kuphela. Lokhu kuhluke kakhulu kubathengisi bezimpahla, kudala umoya wokwabiwa lapho abadlali abakhulu bethola ama-coin ezandleni ezincane.

2. Ukungena Nokuphuma Kwezokuhweba

Ukungena okukhulu ku- izinkampani ezifana ne-Binance noma i-Exbix zivame ukukhombisa umqondo wokuthengisa, njengoba ama-whale elungiselela ukuwakhulula. Nokho, ukuhamba kwemali kukhombisa i-HODLing. NgoJulayi 2025, ukuhamba kwemali okuvela kumawallet ashisayo (isb. i-Revolut, i-Bybit) kuya ekugcineni okubandayo kufinyelele ezingeni eliphezulu, ama-whale ehlanganisa ngokuqinile. Lokhu kwehlisa ukuhlinzekwa okukhona, kusiza i-BTC ukuthi ibuyisele emuva ezingeni eliphansi le-$103,000.

Ku-Exbix, ungabheka ukuhamba okufanayo nge- dashboard. Uma umazulu, kungase kube isikhathi sokuba uqinisekise izikhundla zakho nge-staking ukugwema ukungazinzi kwesikhashana.

3. Umthamo Wokuhweba Nokwakheka

Ukuthengiselana okukhulu (ngaphezulu kwe-$10 million) kuyizimpawu zezimoto ezinkulu. Ngo-2025, usayizi ojwayelekile wezincwadi uthuthuke, kukhombisa ukwanda kokubamba izimfudu. Lapho lezi ziqoqwa ezindaweni zokuhweba eziphansi, kubonisa ukuhlanganiswa; ezindaweni eziphezulu, ukusabalalisa.

Idatha yakamuva evela ku-Santiment ikhombisa izimfudu "zivuka" njengoba i-BTC ifinyelela phezulu emlandweni, nezinyathelo ezinkulu zikhombisa uhlobo oluhlukile lokukhuphuka kwemali. Kubathengisi ku Exbix, ukubona lezi nge-analytics ehlanganisiwe zingahola ukungena ku- BTC/USDT.

4. Inzuzo/Ephumayo kanye ne-SOPR

Isilinganiso Sezindleko Zokuphuma (SOPR) sikhomba ukuthi amamaki athengiswa ngenhloso yokwenza inzuzo (ngaphezulu kuka-1) noma ukulahlekelwa (ngaphansi kuka-1). Ama-whales aqhuba i-SOPR ngaphezulu kuka-1 ngesikhathi sokuphakanyiswa ivame isikhathi eside, njengoba bethola inzuzo. Ekuqaleni kuka-2025, i-SOPR yafika eduze kuka-1 kubagibeli ngesikhathi sokuphakama kuka-$124,200, ngaphambi kokulungiswa.

5. HODL Waves kanye Nezikhathi Zemali

Amagagasi e-HODL akhombisa ukuthi isikhathi eside kangakanani imali ibingasebenzi. Imali esindayo (egcinwe >1 unyaka) ibonisa ukuzethemba okuqinile. Ngo-2025, abanikazi bezikhathi ezide (LTHs) baqhubeka bekhombisa ukuzethemba ngaphezu kuka-$110K, ngama-metric wobungozi bokugcina ukubonisa ubungozi obuhle bokubuyisela. Uma ama-whale eqala ukuhamba ngemali endala, kungase kube uphawu lokushintsha.

Izilinganiso ezengeziwe ezifana ne-min_retweets noma i-min_faves ezivela ekuhlaziyeni kwezokuxhumana zixhumene, kodwa on-chain remains primary.

Izimo Zembali: Izifundo Ezivela Ekuhambahambeni Kwamawhale Kwesikhathi Esedlule

Imbali igcwele izenzakalo ezihambisana nama-whale. Ku-2017’s bull run, ama-whale aqoqe ngaphansi $10,000, bese kwabiwe ezingeni eliphezulu, kwandisa ukuwa. Phambili ukuya ku-2021: Ukuthenga kwe-Tesla okungama-$1.5 billion (ukuhamba kwe-whale) kwavusa ukukhuphuka, kodwa ukuthengiswa okulandelayo kwaba nomthelela emakethe ye-bear.

Ngonyaka ka-2024-2025, ama-whale ezikhungo afana ne-ETFs ka-BlackRock aphumelele. Q1 2025 wabona amazinga aphezulu emlandweni nokuguquguquka, ama-whale ehamba phambili emigqeni yokulawula. Isibonelo esibalulekile: Ku- Mashi 2025, i-whale ithengise i-300.9 BTC ngenani elingu-$24.82 million, okwakha ukwehla kwesikhashana.

Lezi zimo zifundisa ukuthi ama-whale avame ukwenza okuphambene—athenga lapho kukhona ukwesaba, athengise lapho kukhona ukujabulisa. Ku-Exbix, ukusho lokhu kusho ukusebenzisa amathuluzi ethu ukuze uhwebo phakathi kwalezi windows.

Izi Zintandokazi Zamanje ngo-2025: Yini Amawola Abonisa Ngalesi Sikhathi?

Njengoba sikhuluma ngoMgqibelo, 26 kuNcwaba, 2025, i-Bitcoin ithengiswa ngentengo engama-$112,000, yehlile kusuka kumaphikseli angama-$124,200. Idatha ye-on-chain ibonisa isithombe esixubile: Iqoqo ngalinye, kuhlanganise nama-mega whales, lithengisa, kanti le metric isondela ku-1. Nokho, ukuhlanganiswa kuqhubeka—isb., i-whale bc1qgf ifaka i-455 BTC.

Ushintsho olubalulekile: Amawola aphendukela ku-BTC ukuze ETH, ikhuphula umjikelezo we-ETH ngenkathi icindezela i-BTC. Ama-ETF e-Ethereum kanye nezikhala ze-altcoin (i-DePIN, ukwenziwa kwezimpahla) zikhanga imali, kanti i-LINK ibhekwa ngama-whale. Umoya uphakathi kokucabangela—ukwesaba & ukujabulisa kukhombisa u-47—kodwa ukuthula okukhona ku-chain okuvela kuma-whale kukhombisa izimpawu zokwehla.

Abathengi baphuma, ama-whale athenga: Abanikazi abaphakathi nendawo nabakhulu bahlala ku-~0.85-0.9 amandla. Lokhu ukwabelana kuhlanganyela 2021, kungenzeka kubekezelele ukuphakama ngo-2026.

Izinto ezinkulu zidlala indima: Imithetho yokuthengisa kanye nezinsongo ze-quantum zengeza ingozi. Kubasebenzisi be-Exbix, lokhu kusho ukuhlela—ukubeka i-ETH noma ama-alt ngenkathi ubheka i-BTC.

Iziqubulo Eziphambili: Umthelela Ohlanganisiwe We-On-Chain No Off-Chain Factors

Ucwaningo lwango-2025 lugcizelela ukuthi izinto ezise-on-chain (ama-wallets asebenzayo, izindleko) kanye nezise-off-chain (ukuphuma, umuzwa) zisebenza kanjani. Ama-whale akhuphula lokhu: Ukuthengiswa kwawo kungase kubangele ukuhoxiswa kokwehla, njengoba kuboniswe ngo-April 2025 ngendawo ye-ETH engu-$106M.

Imodeli ye-AI ye-Token Metrics ifaka imisebenzi yama-whale ukuze ibikezele, ibikezela izitayela zeminyaka eminingi. Izinkomba ezihlukile ezifana ne blockchain-native data inika izinzuzo.

Amathuluzi Wokuhlaziywa Kwe-On-Chain Ngo-2025

Zinike amandla:

• CryptoQuant: Imininingwane esebenziseka kahle mayelana nezimpahla ze-whale.
• Glassnode: Ukuhlola okujulile ezindaweni zezikhungo.
• Santiment: Izenzo zomphakathi kanye ne-hybrid ye-on-chain.

On Exbix, isibuko sethu esihlanganisiwe sokuhlaziya siza ukukwazi ukuhweba ngokuqonda okuqhutshwa idatha.

Izingozi Nezinto Okufanele Uziqaphele

Amathuna angakwazi ukuhlela nge-derivatives noma izinqumo zezombusazwe. Ngaso sonke isikhathi DYOR—on-chain akuyona into engaphazamiseki. Uma kukhona ukwehla izimo, njengezikhala ezingaba khona ze-$102K, ukuboleka ku-Exbix kunikeza ukuzinza.

Umbono Wesikhathi Esizayo: Ingabe Ama-Whale Azokwenza Umjikelezo Olandelayo?

Izibikezelo zikhomba phezulu ngo-2025-2026, kanti ama-whale abalulekile. Uma ukuhlanganiswa kuqhubeka, i-BTC ingase ihlole u-$150K. Kodwa ukujikeleza ku-ETH kukhombisa ukuhlukanisa.

Isiphetho

Ukucwaninga okwenziwa ku-chain kuveza izinkanyezi, kushintsha izinkomba zazo zibe izinqumo ezisebenzayo. E-Exbix, sizimisele ukuhlinzeka ngezinsiza—kusukela amathuluzi okuthengisa aphambili kuya ku ukuphepha kokubolekwa—ukusiza ukuhamba kulokhu. Ngena ku Exbix.com futhi uhlale phambili kwezinkanyezi.