On-chain analysts discover a mysterious Bitcoin whale
On-chain analysts are trying to figure out who owns a Bitcoin wallet that has been accumulating massive amounts of BTC at an impressive pace. The anonymous entity, nicknamed โMr. 100,โ has been buying at least 100 BTC every day since February 14th, including weekends. In just a short period of time, Mr. 100 has amassed a total of 3,806.54 BTC worth $207,996,959.
The whaleโs activity and holdings
Upon further investigation, it was discovered that Mr. 100 has been active since November of 2022 and currently holds 47,192.78 BTC valued at an astonishing $2,581,599,105. This makes Mr. 100 the 15th largest Bitcoin whale in existence.
Possible identity of Mr. 100
A pseudonymous crypto sleuth known as Mai speculates that the wallet may be connected to the South Korean crypto exchange Upbit. Although there is no official confirmation, Mai points out several reasons for this assumption:
- The wallet address is most active during the Asian trading session.
- About 75% of the walletโs activity occurs during the Asian session.
- The majority (90%) of BTC accumulated by Mr. 100 comes from Upbit and Bithumb.
- Occasionally, BTC is also acquired from Binance and OKX.
- Mai believes that this could be a gathering team from Upbit based on the walletโs behavior.
- The team spreads BTC across multiple orders ranging from 0.0001 to 15 BTC through layer wallets before converting them into distribution fees and transferring them back to the main wallet.
- This is why each purchase appears to be 100 BTC, leading to the name Mr. 100.
Bitcoinโs current price
At the time of writing, Bitcoin is trading at $54,672, reflecting a 5.7% increase in the last 24 hours.
Hot Take: Mr. 100โs mysterious buying spree raises questions
The relentless accumulation of Bitcoin by an unknown entity known as Mr. 100 has caught the attention of on-chain analysts. While the true identity of Mr. 100 remains a mystery, speculation suggests a possible connection to the South Korean exchange Upbit. With the whaleโs impressive holdings and consistent buying pattern, it raises questions about their intentions and potential impact on the market. As the crypto community continues to monitor Mr. 100โs activities, it serves as a reminder of the intriguing and unpredictable nature of the cryptocurrency space.
Daisy Hodley emerges as a luminary blending the roles of crypto analyst, devoted researcher, and editorial virtuoso into a harmonious symphony. In the realm of digital currencies, Daisy’s insights resonate with an exquisite resonance across a diverse spectrum of minds. Her adeptness in decoding intricate threads of crypto complexities seamlessly intertwines with her editorial finesse, translating intricacy into a captivating melody of understanding.