Bitcoin (BTC), Ethereum (ETH) and Altcoins have been paying attention to recent increases, but whales who want to take advantage of the rise are also active.
At this point, Whale Alert, a data analytics platform that tracks whale movements, shared that Bitcoin wallet, which had been inactive for 11 years, had transferred $31 million worth of BTC.
Whale Alert added that the wallet’s last transaction was in 2014, and at the time the BTC2 was only worth $134,144.
It remains unclear who owns the wallet or what purpose the transfer was made, but generally, if action is required after a long period of time, the wallet is interpreted as being sold.
Apart from the Bitcoin Whale, a giant Ethereum whale also moved. According to a post by on-chain data analyst Ember CN, the whale sold more than $131 million in ETH after a two-and-a-half year HODL period.
The whale is described as having a “diamond hand” (a pattern used in the cryptocurrency market). This was the first time I bought 120,874 ETH in September 2022 at an average price of $1,647, as it hasn’t been sold for a long time.
After hugging Ethereum for almost two years, the whale sold his final 30,874 ETH (worth $7,771 million) to Kraken.
The whale has been selling ETH since May last year to make a profit. According to data, the Whale moved it to Kraken at an average price of $2,732 in six transactions a year, earning a total profit of $131 million.
*This is not investment advice.
