A mysterious $BTC whale has made a transaction worth over $8 billion.On Friday, $BTC whale moved a massive amount of 80,000 BTC that had been dormant for 14 years, currently valued at approximately $8.6 billion. These Bitcoins were acquired back in 2011 through #coinbase transactions — the first transactions in a newly mined block created by miners on the blockchain.
This means the coins originally belonged to early miners who were among the first to work on the Bitcoin network.According to data from Arkham Intelligence, the coins were transferred in batches of 10,000 BTC starting Friday morning New York time, and by 11 AM, all the coins had been moved to new addresses.Julio Moreno, Head of Research at #CryptoQuant called this the “largest daily transfer of coins aged 10 years or more”, noting that the previous record was just 3,700 $BTC significantly lower by comparison.#CryptoQuant analyst JA Maartun said that in his eight years of analytical experience, he has never seen such a movement.
He added that the owner of this Bitcoin wallet once held approximately 200,000 BTC.
Connor Grogan, Director at America’s largest crypto exchange Coinbase, stated that this wallet is worth nearly $21.5 billion, making it one of the top five largest #BitcoinHolder in history.
Grogan speculated that the whale might be an “OG miner” one of the early individuals who mined Bitcoin in its infancy.
In the #CryptoWorld a “whale” refers to individuals or institutions that hold a large number of coins — typically 1,000 BTC or more. The coins moved this time were from before the era of industrial-scale #Bitcoinmining , making it difficult to determine whether the owner is an individual or a group.
Recently, the price of Bitcoin was around $107,895 per coin, roughly 4% lower than the all-time high of $111,814 in May.
When whales move coins after a long period of inactivity, it often raises concerns in the market that a sell-off might occur, potentially leading to a price decline.
