Two days ago, an old-school whale from 2012 transferred more than $ 24 million worth of Bitcoin to new addresses.

First noticed is the crypto tracker and alarm generator Whale Alert. The reported an old-school bitcoin holder who moved 740 Bitcoin (BTC) two days ago after the coins were not touched for over nine years.

According to the cryptocurrency Blockchain Explorer service has conducted the address of the whale 38 transactions and received a total of 793,64 bitcoin, and its current value after the dump with about 52 remaining bitcoin is about $ 1,66 million.

Millions moved in a single transaction

The address was first activated in the spring of 2012 and since then only stored smaller amounts of Bitcoin (BTC) – not comparable to the large transfer of 740 coins from 12 addresses that the wallet deposited on May 31 of the same year.

At that time, the transaction was worth approximately $ 3,850, while the current value is more than $ 23.6 million ($24,339 at the time of sale).

100 Bitcoin were sent to one address, and about 640 went to another – but where did they end up?

Both new, receiving addresses were emptied shortly thereafter.

So the address that received the larger amount sent 440 bitcoin to an address that still holds that sum – and the remaining 200 to the same address where the whale sent the initial 100 coins.

The all-new address, currently worth $ 14 million, still holds more than half of the bitcoins thrown away by the whale.

Whales-mysterious creatures

The sell-off this week was not limited to the crypto market, which saw Bitcoin fall by 8%, while Ethereum (ETH) had to give even 21% lost.

According to the Economic Times, stocks around the world were also under pressure – as expected due to the rise in US inflation, which “pushed yields and the US dollar higher,” while the US Consumer Price Index, the most widely used measure of inflation, rose 0.9% in June, the largest growth since June 2008.

The fact that whales can disguise their total stock by dividing it among many addresses makes it hard to determine not only their actual number, but also their ownership status.

440 Bitcoin, almost 60% from the reported whale dump, is still dormant-and while whale actions are interesting to watch one way or another, one takes a look at what they do, especially during market shifts. And their decisions tend to build additional psychological pressure.

Buy BTC on eToro now

Text credit: Cryptoslate

Last updated on July 15, 2021

Top Brokers for buying and trading cryptocurrencies

  • Buy Real Bitcoin or Bitcoin CFDs
  • Wallet and Exchange in one
  • 14 + Cryptos
  • EU regulated
  • Over 40 cryptos on offer
  • Fees rather in the midfield

Cryptocurrencies are a highly volatile, unregulated investment product. Your capital is at risk.