Titanic Crypto Whale Moves Massive Bitcoin and Ethereum Stashes: What You Need to Know 🐋
A crypto whale has recently caught the attention of the blockchain community by swiftly transferring a substantial amount of Bitcoin (BTC) from a dormant wallet. Here’s the scoop on what is happening in the crypto space:
Bitcoin Whale Activity 🌊
- A deep-pocketed crypto investor, after a 10.3-year hiatus, has emptied a wallet containing 687.33 Bitcoin, valued at $43.94 million. The whale initially acquired this stash on January 12, 2014, when the price was $917.
- CryptoQuant CEO Ki Young Ju noted a trend where newer crypto whales are accumulating almost double the BTC compared to long-term holders. The transfer of old BTC tokens to newer players has been increasing, especially after Bitcoin’s average dormancy rate achieved a 13-year peak.
Ethereum Whale in Action 🐳
- Another significant whale, identified by Lookonchain, has bought a massive amount of Ethereum (ETH) last year and is now starting to sell off part of their holdings. The investor withdrew 12,906 ETH from Binance at $1,890 a year ago, deposited it into Lido, then withdrew 7,000 ETH when the market dipped, depositing it back into Binance on May 6th. Their profits from this move exceed $16 million.
Cryptocurrency Market Updates 📈
- Bitcoin is currently trading at $63,835, showing a slight downturn in the last 24 hours.
- Ethereum’s price sits at $3,083, with a 1.6% decrease over the past day.
Final Thoughts on Crypto Whales and Market Movement 🚀
In the dynamic world of cryptocurrencies, whale movements often trigger market shifts and investor speculations. Keep a close eye on these significant players and their actions, as they can provide valuable insights into the crypto landscape.
Sources: Lookonchain Twitter
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