Bitcoin (BTC) has risen sharply in value over the past few months, and this has been accompanied by a lot of whale activity. Looks like for now a lot of big investors not calmed down, which is now confirmed by new on-chain data. An old whale woke up from hibernation for the first time in 10.5 years on Friday.
Bitcoin whale sells after 10.5 years
That appears from Whale Alert data. Someone moved 278 BTC on Friday from an address that hasn’t sent anything for 10.5 years. The address contained some 1,128 BTC before the three transactions in question, and still has almost 666 BTC left. In a second set of transactions namely 184 BTC.
Lookonchain has discovered that the wallet address in question sent as much as 1,128 BTC between October 2012 and May 2013. The price was then between about 8 euros and 100 euros. Despite the fact that we now seem to be slowly emerging from a deep bear market, the early crypto fanatic has a lot of profit on it. The bitcoin price is now about 25,600 euros, which means that this person earns back about 255 to 3,200 times his or her money.
Unfortunately, it is never possible to say with certainty from this type of data whether the trader has sold and what the purpose is at all. It is clear that the three new addresses are new.
A whale with 1,128 $BTC($31.6M) that has been dormant for 10 years transferred 279 $BTC($7.8M) to 3 new addresses just now.
The whale received 1,128 $BTC in October 2012 and May 2013, when prices were $12 and $195.https://t.co/2MxnVzcEMl pic.twitter.com/2GM7Oq4e2P
— Lookonchain (@lookonchain) April 21, 2023
Whales sell and become less important
This whale is not the only one lately. So there was Thursday yet another whale who also decided to send coins for the first time in years. Of course, this investor is also still very much in the plus. It also appears that whales play an increasingly less important role for bitcoin, although other on-chain data showed that whales are slowly buying back on average.
A few months ago, whales were still very dominant for some altcoins. The majority of all ether (ETH) and dogecoin (DOGE) is even with a very small group of investors.
