One of the biggest Bitcoin whales of all time just suddenly moved a colossal ten-figure bag of BTC out of their wallet as the flagship crypto asset hovers around $54,000.
According to blockchain tracker Bitcoin Block Bot, an unknown entity relocated 40,913 BTC worth $2.2 billion at the time of the transaction for a fee of just $19.67.
BitInforCharts reveals that the huge whale behind the transfer created the BTC wallet on February 27th and it immediately became the 16th wealthiest address in existence.
The addresses involved do not have any known connections to a company that invests or works in the crypto space. Also, the Bitcoin has not been moved to any known addresses owned by crypto exchanges, where it could be traded and sold on the open market.
The whale spotting comes days after on-chain analytics firm Glassnode says that the recent Bitcoin correction has largely been shaking out the new holders while the older, stronger hands “remain strong.” They recorded a massive flushing of young BTC wallets immediately after Bitcoin fell off its all-time high near $65,000.
“It can be seen that coins older than one-month represent a very small and declining proportion of the total transaction flow. Conversely, the number of young coins (< 1-week old) being spent have seen an uptick towards the end of the week suggesting newer market entrants were shaken out during this correction.”Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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Featured Image: Shutterstock/Vadim Sadovski