- 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.
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.
