Bitcoin Whale That Dormant For Almost 4 Years Suddenly Moves $250 Million
Key Points:
- The dormant whale’s wallet was worth more than $1 billion at the peak of Bitcoin’s value. However, only $250 million now remained.
- The received wallet currently has $430 million in it and does not appear to be associated with any cryptocurrency exchange or company that would use those monies for liquidity.
An old Bitcoin wallet that had been inactive for over four years abruptly transferred approximately $250 million to another unknown Bitcoin address. The address that received the payments currently has about $500 million in BTC.
The dormant whale’s wallet was worth more than $1 billion at the peak of Bitcoin’s value. As market circumstances worsened, the whale’s portfolio lost a significant portion of its value. At the time of the transaction, only $250 million remained in what had previously been a $1 billion wallet.
The whale acquired the original 15,000 BTC in 2019 and has only now moved it to another wallet. Unfortunately, several blockchain explorers display no information on the whale, so it is unclear if it’s associated with an exchange or an OTC trading desk.
However, the wallet’s activity indicates that it is either held by a big retail investor who has been keeping and accumulating Bitcoin on different wallets or by a blockchain-based business in need of emergency liquidity. In the second situation, however, at least one wallet in the transaction chain would have been linked to a specific organization identified in explorers.
The wallet that received the cash currently has $430 million in it and does not appear to be associated with any cryptocurrency exchange or company that would use those monies for liquidity.
Previously, a few other wallets that had been dormant for years began to transfer payments. The cause for this might be a market impasse, which normally occurs before a period of high volatility, and whales may be ready to preserve their cash by pulling out temporarily.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Thana
Coincu News
Author
Bitcoin
Bitcoin Whale That Dormant For Almost 4 Years Suddenly Moves $250 Million
Key Points:
- The dormant whale’s wallet was worth more than $1 billion at the peak of Bitcoin’s value. However, only $250 million now remained.
- The received wallet currently has $430 million in it and does not appear to be associated with any cryptocurrency exchange or company that would use those monies for liquidity.
An old Bitcoin wallet that had been inactive for over four years abruptly transferred approximately $250 million to another unknown Bitcoin address. The address that received the payments currently has about $500 million in BTC.
The dormant whale’s wallet was worth more than $1 billion at the peak of Bitcoin’s value. As market circumstances worsened, the whale’s portfolio lost a significant portion of its value. At the time of the transaction, only $250 million remained in what had previously been a $1 billion wallet.
The whale acquired the original 15,000 BTC in 2019 and has only now moved it to another wallet. Unfortunately, several blockchain explorers display no information on the whale, so it is unclear if it’s associated with an exchange or an OTC trading desk.
However, the wallet’s activity indicates that it is either held by a big retail investor who has been keeping and accumulating Bitcoin on different wallets or by a blockchain-based business in need of emergency liquidity. In the second situation, however, at least one wallet in the transaction chain would have been linked to a specific organization identified in explorers.
The wallet that received the cash currently has $430 million in it and does not appear to be associated with any cryptocurrency exchange or company that would use those monies for liquidity.
Previously, a few other wallets that had been dormant for years began to transfer payments. The cause for this might be a market impasse, which normally occurs before a period of high volatility, and whales may be ready to preserve their cash by pulling out temporarily.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Thana
Coincu News
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