A crypto whale is being noticed for suddenly moving tens of millions of dollars in Bitcoin (BTC) from a long-dormant wallet.
According to blockchain tracking firm Lookonchain, the deep-pocketed crypto investor completely emptied their wallet that had contained 687.33 Bitcoin for more than a decade.
“A wallet that has been dormant for 10.3 years transferred all 687.33 BTC ($43.94 million) out [on May 6th]. The whale received 687.33 BTC ($630,000 at that time) on January 12th, 2014, when the price was $917. Address: 15WZNLACuvcDrrBL2btDErJggnaMQtHh5G.”
Meanwhile, CryptoQuant CEO Ki Young Ju said last month that newer crypto whales are accumulating nearly twice as much BTC as their long-term holder counterparts. Ju also said that old BTC tokens were being transferred to new holders after Bitcoin’s average dormancy rate recently hit a 13-year peak.
Bitcoin is trading for $63,835 at time of writing, down slightly in the last 24 hours.
Lookonchain also noticed that another whale appears to have been taking huge profits after buying a massive amount of Ethereum (ETH) last year. According to the on-chain monitoring platform, the investor has started to unload some of their holdings.
“A whale who bought ETH a year ago seems to be selling ETH to take profits. He withdrew 12,906 ETH ($24.39 million) from Binance at $1,890 a year ago and deposited it into Lido. He withdrew 7,000 ETH from Lido when the market dropped on April 30th and deposited it into Binance [on May 6th]. His profit on ETH exceeds $16 million!”
Ethereum is trading for $3,083 at time of writing, down 1.6% in the last 24 hours.
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