A crypto whale with a recent track record of raking in big profits from Bitcoin just accumulated tens of millions of dollars worth of BTC, according to on-chain data.
Crypto tracker Lookonchain says between August 24th and September 2nd, the unknown whale accumulated 6,000 BTC worth $158.66 million at an average price of $26,444 per Bitcoin.
[adinserter block="1"]The whale subsequently deposited 3,000 BTC worth $105.7 million to Binance at a price of $35,241 per Bitcoin, making a total profit of $26.4 million.
Lookonchain notes that the same whale accumulated 1,750 BTC worth $76.9 million from Binance from January 6th to 8th at an average price of $43,953 per Bitcoin.
The whale also accumulated an additional 250 BTC on Monday at an average price of $46,970 per Bitcoin. It currently holds a total of 5,000 BTC worth more than $233.5 million, according to BitInfoCharts.
BTC is trading at $46,957 at time of writing. The top-ranked crypto asset by market cap is up over 7% in the past 24 hours.
Prior to Monday’s gains, Bitcoin’s price dropped by more than $1,000 over a seven-hour period on Sunday. Lookonchain notes that the Bitcoin mining pool F2Pool deposited 1,000 BTC worth $43.96 million to Binance during that period.
The mining pool also deposited 1,000 BTC worth $43.76 million to Binance on Friday, according to the crypto tracker.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE3
