A Bitcoin whale has transferred 2,931 BTC, valued at approximately $188 million, from a dormant wallet after seven years without any activity. The transfer was identified by Lookonchain, which noted that the coins were acquired when Bitcoin was trading at $6,513.
The whale moved the entire amount to a newly created wallet, which is not associated with any known exchange, leaving open the possibility that the coins may not be sold immediately. The value of the holdings has increased significantly since their acquisition, reflecting Bitcoin's rise to around $63,000.
Market Activity and Other Transfers
This notable transfer contributes to a trend observed in recent months, where several dormant wallets have become active again. In May, eleven wallets from the 2013-2017 period moved Bitcoin valued at $69 million. Additionally, two wallets deposited 1,650 BTC into FalconX, a prime brokerage, which had a combined value of about $127 million.
In a related development, another large holder has been swapping Ether for Bitcoin. Reports indicate that this trader exchanged a total of 17,385 ETH for approximately 496.3 BTC, valuing the trades at around $31 million. The continued rotation between ETH and BTC highlights shifting investor strategies amid fluctuating market conditions.
This material is for informational purposes only and should not be construed as financial advice.
