Get the scoop on finance - sign up for mobile alerts
Categories: Bitcoin
| On
April 8, 2024

Bitcoin Whale Suddenly Wakes Up After 10 Years of Dormancy To Transfer $16,730,000 in BTC: On-Chain Data

By Alex Richardson

A Bitcoin whale that sat dormant for the last decade has suddenly awakened and begun transferring millions of dollars worth of BTC.

First spotted by blockchain tracking firm Lookonchain, an address beginning with “1CLx” – which bought Bitcoin when it was trading below $30 – has awakened after 10 years of inactivity.

ADVERTISEMENT

“A whale with 1,701 BTC ($115.42 million) woke up after 10 years of dormancy and transferred 246 BTC ($16.73 million) out..

The whale received 4,272 BTC ($125,541 at the time) in 2013 at an average price of only $29.39.”

Source: Lookonchain/X

With Bitcoin currently trading at $69,835, the whale is now up about 237,514% on its original investment.

Lookonchain also spotted a new whale that has been aggressively accumulating Bitcoin since early March.

ADVERTISEMENT

According to the firm, an address starting with “bc1qag” has accumulated over 1,308 BTC coins worth nearly $90 million. Its last purchase was from Binance, the largest crypto exchange in the world, for 113 BTC worth $7.85 million.

“This whale has accumulated 1,308 BTC ($89.75 million) at an average price of $68,617 since March 6th.

Address:
bc1qag725vjxxpkkl5gshfkye9xn4p5vklrlhgkw5w”

Source: Lookonchain/X

Lookonchain recently reported that another dormant whale abruptly sent over $74.3 million in Bitcoin to Binance after being inactive for about eight months. At the time of the transfer, the whale still held $597.55 million worth of BTC.

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
&nbsp
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 cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Stock Picture Store

ADVERTISEMENT