Analysts on the Lookonchain platform have identified a Bitcoin whale that has been dormant for more than 10 years. For the first time, the user moved assets worth several tens of millions of dollars for a long time.
According to the data received, the whale received the first cryptocurrency on January 12, 2014 in the amount of 687.33 BTC. At $917, this asset volume was worth more than $630,000.
A wallet that has been dormant for 10.3 years transferred all 687.33 $BTC($43.94M) out 10 mins ago.
The whale received 687.33 $BTC($630K at that time) on Jan 12, 2014, when the price was $917.
Address: 15WZNLACuvcDrrBL2btDErJggnaMQtHh5G pic.twitter.com/tEPqM0CrrK
— Lookonchain (@lookonchain) May 6, 2024
Ten years later, the value of Bitcoin has increased almost 70 times, based on the rate at which the user sold it. As a result, the formal profit for 687.33 BTC exceeded $42.7 million.
On April 18, 2024, it became known that large investors, who manage at least 0.1% of the total supply of Bitcoin, purchased 19,760 BTC for a total of $1.2 billion. The average purchase price was $62,500.
According to analysts, historically, the accumulation of funds at these addresses often preceded an increase in the price of the first cryptocurrency.
In addition, Santiment said that since the beginning of 2024, Bitcoin whales have accumulated an additional 266,000 BTC. In monetary terms, this amounts to $17.3 billion. Asset owners with balances ranging from 1,000 BTC to 10,000 BTC received 1.24% of the total supply of 21 million BTC during the mentioned period.
🐳 #Bitcoin's key whale tier holding 1K-10K $BTC are supporting this rise, and have now accumulated 266K more $BTC since the start of 2024. This translates to an accumulation of 1.24% of the entire supply. The crowd is also showing a high degree of #FOMO. https://t.co/fNSTOERzXo pic.twitter.com/qaJmQJfFca
— Santiment (@santimentfeed) April 24, 2024
It is also worth noting that on May 6, 2024, the Bitcoin rate exceeded $65,000 and consolidated there. The daily increase in the position was 1.8%. The asset's market capitalization is $1.3 trillion.
Source: Cryptocurrency
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