Lawrence Damilola
A long-dormant Bitcoin whale, who mined cryptocurrency just five days after the genesis block was created in 2009, has recently made significant transfers to Kraken, a major cryptocurrency exchange.
Blockchain data firm Arkham Intelligence reported that the whale transferred $630,000 worth of Bitcoin to Kraken on Monday. This follows previous transfers by the same wallet, totaling $5.47 million in Bitcoin over the past two months.
According to Arkham Intelligence, the whale’s wallet still holds approximately $75.2 million worth of Bitcoin after these transfers. The wallet’s remaining 1,127 bitcoins were moved to a new address following the most recent transaction. Bitcoin addresses from the early days of the blockchain rarely move funds, making these transfers noteworthy.
𝗔𝗡𝗖𝗜𝗘𝗡𝗧 𝟮𝟬𝟬𝟵 𝗪𝗛𝗔𝗟𝗘 𝗡𝗢𝗪 𝗦𝗢𝗟𝗗 $𝟱.𝟰𝟳𝗠 𝗕𝗧𝗖
— Arkham (@ArkhamIntel) October 14, 2024
The ancient Bitcoin whale we’ve been tracking, who mined BTC 5 days after Bitcoin’s first block (13th January 2009), has just moved another $630K BTC to Kraken – totalling $5.47M in the past 2 months.
This… pic.twitter.com/kjKx34Ib6B
Other Early Bitcoin Whales Make Transfers
This whale is not the only early Bitcoin holder who moved funds recently. On October 3, another whale, inactive for over a decade, transferred 10 Bitcoins, valued at $610,000, to Kraken. In a similar case, a different whale who mined Bitcoin just two months after the blockchain’s launch moved $16 million to Kraken in September after being dormant for 15 years.
These movements from early Bitcoin whales are unusual, as such addresses rarely make transactions, raising interest in the reasons behind these transfers.
Bitcoin Price Performance and Market Activity
Bitcoin has seen notable price increases recently, coincideing with the whale movements. Over the past week, its price has risen by 7.45%, pushing its value to over $67,000. Over the past year, Bitcoin has experienced significant price swings, ranging from lows around $28,000 to a high of $73,000 in March.
Additionally, the Crypto Fear & Greed Index, which tracks market sentiment, gave it a score of 73 out of 100 in its October 16 update, placing it in the “Greed” category. This marks the highest index level since late July when Bitcoin was priced at around $66,000. These recent developments in price and market sentiment may explain the activity among dormant wallets, though no clear reasons have been stated.
Read More
- Vitalik Buterin Proposes Increasing Blob Count for Ethereum Network—Here’s Why
- Ethereum’s Vitalik Buterin Responds to Claims That Crypto Market Maturity Has Arrived
- Vitalik Buterin Calls for Greater Decentralization of Layer-2 Networks
Lawrence does not hold any crypto asset. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
