Whale activity on the Bitcoin network makes up 50% of all transactions

Definition

Entity-adjusted relative on-chain volume breakdown by the USD value of the transactions.

Whale activity in terms of transactions now accounts for 50% of the Bitcoin network.
Whale activity is defined by a transfer volume of $1M or more.
During the FTX collapse, whale activity decreased to as low as 39%.
During the FTX collapse, whale addresses increased drastically, with a 30-day change count of over 20 addresses.