A deep-pocketed crypto whale with a staggering amount of Bitcoin suddenly moved over nearly half a billion dollars worth of BTC in a single transaction as the world’s leading digital asset traded around $47,000.
The whale ended up paying a fee of 0.00001704 BTC, or about $0.80 for the entire transaction.
A wallet of unknown origins collected 1,100 BTC worth $51.75 million. The entity behind the wallet in question then relocated the 1,100 BTC to a series of other wallets in a flurry of smaller transactions worth between 10 BTC and less than one BTC.
A second wallet received 8,311 BTC, worth over $390 million at time of writing, becoming the 138th biggest Bitcoin known on the network. A third wallet received less than one BTC.
The whale activity comes as large crypto investors collectively distribute more and more of their holdings to smaller market participants over time. According to on-chain analyst Willy Woo, Bitcoin ownership is becoming slightly more decentralized as time goes by through the transfer of BTC from big investors to smaller participants.
“Whales currently hold 24% of the supply.
Holdings as at 1st Jan of past years:
2021 – 27%
2020 – 27%
2019 – 29%
2018 – 32%
2017 – 39%
2016 – 44%
2015 – 46%
2014 – 48%
2013 – 52%
2012 – 54%
Shrimps are buying the dips, whales slowly divest, same as ever. (BTC gets better distribution every year through this process).”
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Featured Image: Shutterstock/Oliver Denker