Large portfolios of bitcoin whales have returned to the market for the first time in years.
This move coincided with the growth of the #cryptocurrency market.
#Bitcoin has reached a new price milestone. A new wave of excitement has swept the cryptocurrency market as the bitcoin (BTC)-led rally has generated a wave of positive momentum. This recovery has sparked the interest of both retail and institutional investors, who are switching assets in an attempt to capitalize on market movements. nn Even long-dormant portfolios are showing signs of new life, like a whale coming back to life after more than a decade of hibernation.
After years of silence, a long-dormant bitcoin whale holding 749 #BTC has caught the industry's attention and shaken up portfolios: on Tuesday, October 27, 2024, data on the #blockchain showed that 159.2 BTC had left the whale's wallet, which at current prices is valued at about $11.5 million. This indicates a significant movement.
Transaction represents the first movement in nearly 12 years for Whale's portfolio, which had a balance of just $8,000 on November 10, 2012.
The motives behind the transfer remain unclear, but it coincides with the recent rise in the bitcoin price, which pushed the cryptocurrency giant to the long-awaited $71,000 mark.
The current value of Bitcoinkit's portfolio has increased by about 644,000% since its acquisition, indicating the long-term viability and success of the cryptocurrency giant.
Bitcoin is currently trading at $71,795. Over the past 24 hours, this major cryptocurrency is up about 5% and 10% from this week's low of $BTC Read more about the resurgence of other whales here:
To learn more about the rise of BTC, read this article:
This article is for informational purposes only and should not be considered trading or investment advice.
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