When a large whale moves in the sea, it creates ripples over the water. Similarly, when a large bitcoin
The proprietor, often called a crypto whale, moves his coins on chain that creates humming on social media, causing observers to wonder if it is a prelude to a sales and downward price volatility.
Early Friday, two wallets moved, labeled “12TLS … XJ2ME” and “1KBRS … AWJYM,” 20,000 BTC worth over $ 2 billion to new addresses, according to data traced by Blockchain Sleuth Lookonchain. The addresses received these coins on April 3, 2011, when Bitcoin was priced at around 78 cents.
Today, BTC is over $ 109,000, suggesting a staggering 140,000 times returns for the two whale addresses, which means they have a strong incentive to liquidate their inventory. Many long -term owners have been selling their coins ever since BTC crossed over $ 100,000 in May.
That said, the latest transfers were made to non-exchange addresses, which have been silent since received these coins. So it is too early to conclude that the transfer operation is aimed at making profits.
