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 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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