A dormant whale becomes active after 10 years and moves 246 BTC worth $16.73 million.
In 2013, the whale accumulated 4,272 BTCs at an average price of $29.39 per coin, totaling $125,541 at the time.
Lookonchain sheds light on another whale’s massive purchase of 113.735 BTC worth $7.85 million from Binance.
In a recent turn of events, a dormant Bitcoin whale who had been inactive for 10.5 years became reportedly active. As per a recent X post of Whale Alert, the dormant whale address holds 1,701 BTCs, a collection worth $1,060,796 in 2014. However, according to the current price of Bitcoin, the whale now holds Bitcoins worth an astounding $115,417,623.
💤 💤 💤 💤 💤 💤 💤 💤 💤 💤 A dormant address containing 1,701 #BTC (115,417,623 USD) has just been activated after 10.1 years (worth 1,060,796 USD in 2014)!https://t.co/qSaOsnUV89
— Whale Alert (@whale_alert) April 6, 2024
Lookonchain, an on-chain analytics platform, shared deeper insights into the whale’s moves. In recent hours, the address reportedly transferred 246 BTC worth $16.73 million. In 2013, the whale received 4,272 BTCs at an average price of $29.39 per coin, totaling $125,541 at the time.
A whale with 1,701 $BTC($115.42M) woke up after 10 years of dormancy and transferred 246 $BTC($16.73M) out 20 mins ago.The whale received 4,272 $BTC($125,541 at the time) in 2013 at an average price of only $29.39.Address: 1CLxmHRhoi9VpSj5QihqPEdbhLL8E1oeUZ pic.twitter.com/W45On1Q7vb
— Lookonchain (@lookonchain) April 6, 2024
In a subsequent post, Lookonchain unveiled another Bitcoin whale’s massive purchase of 113.735 BTC worth $7.85 million from Binance. According to Lookonchain’s post, the same whale has accumulated 1,308 BTCs worth $89.75 million, an average price of $68,617 since March 6.
These whales’ Bitcoin transfer and accumulation come amidst Bitcoin’s recovery to the $69k mark. Though Bitcoin has gone below the $65k mark in recent days, the pioneer cryptocurrency has managed to rise above its previous all-time high. At press time, Bitcoin is trading at $69,234, with a daily surge of 1.61%. Despite a weekly dip of 1.43%, Bitcoin has exhibited a hike above 5% over the last month.
The dormant address’ re-entry to the market and the whale’s massive Bitcoin accumulation have created a buzz in the crypto community. While whales and their transfers and accumulations significantly impact the cryptocurrency’s price, investors and traders are keenly awaiting to observe the price action following the whales’ significant moves.
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