A Crypto Whale Accumulates Tens of Millions in Bitcoin
A crypto whale, known for making significant profits from Bitcoin, has recently acquired a large amount of BTC. According to on-chain data from Lookonchain, between August 24th and September 2nd, the whale accumulated 6,000 BTC worth $158.66 million. The average price per Bitcoin was $26,444.
Following this acquisition, the whale deposited 3,000 BTC worth $105.7 million to Binance at a price of $35,241 per Bitcoin, resulting in a total profit of $26.4 million.
This particular whale had previously accumulated 1,750 BTC worth $76.9 million from Binance between January 6th and 8th at an average price of $43,953 per Bitcoin.
In addition to these transactions, the whale purchased an additional 250 BTC on Monday at an average price of $46,970 per Bitcoin. It now holds a total of 5,000 BTC valued at over $233.5 million.
Bitcoin’s Price and Recent Activities
As of now, BTC is trading at $46,957 and has seen a 7% increase in the past 24 hours.
Prior to Monday’s gains, Bitcoin experienced a drop of over $1,000 in just seven hours on Sunday. Lookonchain reports that during that period, the Bitcoin mining pool F2Pool deposited 1,000 BTC worth $43.96 million into Binance.
The mining pool also made another deposit of 1,000 BTC worth $43.76 million on Friday.
Hot Take: Whale Makes Strategic Moves with Bitcoin Holdings
A crypto whale known for its profitable Bitcoin ventures has made significant moves with its holdings recently. By accumulating tens of millions of dollars’ worth of BTC and strategically depositing it into Binance, the whale has generated substantial profits. These transactions indicate a calculated approach to capitalizing on Bitcoin’s price movements and market conditions. The whale’s ability to accumulate large quantities of Bitcoin and execute profitable trades demonstrates the potential for significant gains in the cryptocurrency market. As Bitcoin continues to experience volatility, such strategic moves by whales can have a notable impact on the overall market sentiment and price trends.
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