An important event took place in the cryptocurrency market that involved a whale who had been inactive, for a time. This entity moved an amount of 2,101 bitcoins which had not been touched since 2015. The transfer of these bitcoins valued at around $88.55 million based on exchange rates is noteworthy due to their extended period of inactivity. The whale acquired these bitcoins back in 2015. They remained untouched for over eight years and ten months.
The transfer originated from the BTC address “1DJs7”. Was detected by btcparser.com. The bitcoins were then distributed to two addresses; 1,762.99 BTC went to another P2PKH address “1GtUy ” while around 338 BTC were sent to a Bech32 address “bc1qj,” which uses the Segwit address format. Interestingly the total value of the bitcoins at these addresses remained around $88 million.
This transaction showed that the whale didn’t prioritize privacy as indicated by Blockchairs privacy tool rating it with a score of 0, out of 100. This low score was attributed to matched address identification and other security vulnerabilities. Additionally four other seven year old addresses were reactivated on December 15 2023 coinciding with the movement of these bitcoins. These addresses were involved in transferring 734.98 BTC $30.93 million.
Apart, from these movements there were also transfers noticed during that period. According to Whale Alerts, a data tracker there were substantial transfers made from different wallet addresses to popular crypto exchanges like Binance and Coinbase. These transfers included a transfer of 781 BTC ( to around $32 million) from four wallets with 658 BTC sent to Binance. Additionally another wallet moved 500 BTC ( $20.5 million) to Binance while an unidentified wallet transferred 2,511 BTC (valued at $103 million) to Coinbase. These movements have sparked conversations within the cryptocurrency community regarding the impact on Bitcoins selling pressure. Have raised questions about the intentions, behind such large scale transfers made by influential Bitcoin BTC 2.56% holders.