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- A crypto whale has recently moved a significant amount of Bitcoin (BTC) from a wallet that has been dormant for over a decade.
- Blockchain tracking firm Lookonchain reported that the wallet, which contained 687.33 BTC, was completely emptied.
- Meanwhile, another crypto whale has started to sell off Ethereum (ETH) that was bought a year ago, realizing a profit of over $16 million.
A crypto whale has made headlines for moving a large amount of Bitcoin from a long-dormant wallet, while another is cashing in on Ethereum bought a year ago. Stay updated with the latest crypto market movements.
Crypto Whale Moves Dormant Bitcoin
A crypto whale has recently attracted attention for moving a significant amount of Bitcoin from a wallet that has been dormant for over a decade. According to blockchain tracking firm Lookonchain, the investor emptied their wallet, which contained 687.33 BTC, worth approximately $43.94 million at the time of the transaction. The wallet received the Bitcoin on January 12th, 2014, when the price was $917.
Newer Whales Accumulating Bitcoin
Last month, CryptoQuant CEO Ki Young Ju reported that newer crypto whales are accumulating nearly twice as much BTC as their long-term holder counterparts. He also noted that old BTC tokens were being transferred to new holders after Bitcoin’s average dormancy rate recently hit a 13-year peak. At the time of writing, Bitcoin is trading for $63,835, down slightly in the last 24 hours.
Ethereum Whale Cashes In
Lookonchain also reported that another crypto whale has started to sell off Ethereum that was bought a year ago. The investor withdrew 12,906 ETH, worth $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. His profit on ETH exceeds $16 million. Ethereum is trading for $3,083 at the time of writing, down 1.6% in the last 24 hours.
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Conclusion
The recent movements of these crypto whales highlight the volatility and potential profitability of the crypto market. As Bitcoin and Ethereum continue to dominate the market, investors should keep a close eye on these large-scale transactions as they can significantly impact the market dynamics.
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