Well, well, well! Look at what the amphibian dragged in, we recently got a Satoshi-era Bitcoin whale who’s finally come out of hibernation. The whale only made transactions worth nominal value for a decade, but recently this crypto behemoth has made its presence felt by moving a whopping 400 BTC, currently valued at around $11 million.
According to the wallet transaction history, the whale transferred 360 BTC (worth $9.8 million) to a single wallet while dispersing the remaining 40 BTC across several other locations. To make it even more shocking – there’s still a staggering 600 BTC left in the wallet.
But wait, that’s not all! It is not an isolated incident. Lately, many other whales have been stirring from their slumber and moving their Bitcoin holdings after years of inactivity. Just last week, another whale transferred over 460 BTC (or $12.65 million) to other wallets.
In the past week, we’ve seen not one, not two, but three massive whale addresses make some seriously huge transfers after lying dormant for a decade. One such address even transferred 2,071 BTC worth $62 Million.
The cherry on the icing was that two other whale addresses also made separate transfers of over 1,000 BTC each, despite the Bitcoin price remaining relatively stagnant after consistent drops.
So, What does this mean for Bitcoin and the World of Crypto?Â
For starters, it proves that whales are still the most successful and influential investors out there. Although Bitcoin whale numbers had dwindled earlier this year, they are still a force to be reckoned with. And why not? Bitcoin has seen an incredible surge of over 40,000% in the past ten years, meaning those who held onto their coins have seen some serious profits.
Currently, Bitcoin is trading at $27,260, and it’s down by 10% in value over the past week. However, this could all change with the upcoming BTC halving that’s expected to shake things up significantly. And who knows? We may see more movement in BTC next year as it approaches the coveted $100k mark. Of course, there’s always the possibility that potential interest rate hikes could also impact the price of Bitcoin.
Here’s the kicker – it’s not just Bitcoin that’s seeing this kind of whale activity. Ethereum (ETH) and XRP whale transactions were also recorded around the same time, which means that the entire crypto market may soon be in for some serious action.
All in all, it’s an exciting time to be in the world of cryptocurrency. Who knows what kind of surprises these whales will have in store for us next?
