This has grown more widespread as formerly dormant whale populations have been waking up and relocating their assets. Read it on.
- On Monday, the whale sent 360 BTC (equivalent to $9.8 million) to a single wallet.
- There are still 600 BTC in the wallet.
While the price of Bitcoin fell for three days in a row last week, some “whales” who had been sitting on large sums of the cryptocurrency activated their inactive wallets. The asset’s price usually rises in tandem with this pattern.
Whales Relocating Assets
On Monday, the whale sent 360 BTC (equivalent to $9.8 million) to a single wallet and another 40 BTC to many other addresses. There are still 600 BTC in the wallet. Recently, this has grown more widespread as formerly dormant whale populations have been “waking up” and relocating their assets.
Following a 10-year hiatus, a “whale” recently transferred 279 Bitcoins (worth around $7.6 million) to fresh wallets.
Earlier this year, the number of Bitcoin “whales,” or those with more than 1,000 BTC, fell to its lowest level in three years. BTC whales have once again shown their superiority as investors through their recent actions.