Giant Bitcoin Whale, which has been inactive for six years, made a large BTC transfer to Coinbase Exchange!

A Bitcoin whale wallet, which has been inactive for six years, attracted the attention of analysts by transferring a significant amount of Bitcoin to Coinbase.

A Bitcoin whale wallet that has been inactive for six years has made a notable move by transferring a significant amount of Bitcoin to Coinbase.

Whale that remained motionless for a long time sent $61 million worth of BTC to Coinbase

Early Friday, as the leading cryptocurrency struggled to sustain its rally above $62,000, a wallet identified as 12EMDoUhaNCuWZeeT6ey61AkjKyzmjV2m3 deposited 1,000 BTC worth over $61 million to Coinbase Pro, according to data tracked by Lookonchain and Arkham Intelligence.

These coins were originally purchased for only $6.68 million. A whale wallet can typically hold 1,000 BTC or more.

This quarter, there was a noticeable increase in the activity of dormant Bitcoin wallets that began moving cryptocurrencies to exchanges. Just a day ago, the wallet of a Bitcoin miner that had been inactive for 14 years sent 50 BTC to Binance.

Analysts think these long-term holders may want to cash out or engage in speculative activities in the derivatives market as prices remain near record highs.

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