On-chain data shows that the ancient whale wallet, which had been dormant for 14 years, after transferring 80,000 bitcoins recently, took action again this morning (17th), transferring 40,192 bitcoins (worth 4.75 billion USD) to a new address. The market speculates that this 'ancient whale' may continue to release chips.
Looking back on July 4th, Independence Day in the United States, this mysterious address awakened for the first time since 2011, sequentially transferring 80,000 bitcoins (worth 9.5 billion USD), split into transactions of 10,000 bitcoins each to 8 new addresses, of which 40,010 bitcoins were transferred to the Galaxy Digital wallet address earlier this week.
It is reported that some bitcoins have flowed to the cryptocurrency exchange OKX, as well as other unmarked wallets, while the remaining bitcoins are still sitting in the Galaxy Digital wallet.
Lookonchain pointed out at the time that considering that bitcoin recently broke 122,000 USD, setting a historical high, this whale is likely selling its holdings through Galaxy Digital's over-the-counter (OTC) channels.
On-chain data indicates that the remaining 40,192 bitcoins are likely still held by the mysterious whale after the initial transfer, which was originally dispersed to four addresses starting with 'bc1qn', 'bc1qy', 'bc1qm', and '1GcCK', but were merged and transferred to a new wallet address (starting with 'bc1qs') this morning.
As of now, this new wallet has not taken any subsequent action. However, Lookonchain reminds that if this batch of bitcoins flows back to Galaxy Digital or other institutional wallets, it may indicate that this whale 'will continue to sell off'.
Image source: X
This article is reprinted with permission from: (Block Buddy)
Original title: ('Ancient whale' strikes again! Transferring 40,000 bitcoins, market closely watches subsequent movements)
Original author: Block Girl MEL
《The giant whale that slept for 14 years strikes again! Transferring 40,000 bitcoins, sharpening knives in preparation to dump?》This article was first published in 'Crypto City'
