Anonymous BTC Whale Transfers 46,000 BTC, But No One Knows Why

AnalysisAnonymous BTC Whale Transfers 46,000 BTC, But No One...



Arman Shirinyan

One of biggest Bitcoin addresses in world makes enormous move

One of the biggest nonexchange transactions worth 46,000 BTC, or $1 billion, appeared on the chain, causing a slight controversy among cryptocurrency investors and traders as the end destination of funds and their faith remains unclear, as does the initial desire of the whale.

The address was the seventh biggest address in the whole blockchain space, but it has lost its position after redistributing 46,000 BTC in five transactions, 15,000 BTC per operation.

BTC Wallet Chart
Source: BitInfoChart

The massive sale was the biggest funds redistribution in the address’s history as it has been constantly accumulating Bitcoin since April 2019 without selling such a large percentage of the portfolio.

The biggest distribution took place back in January 2021, when the address dropped more than 7,000 BTC during the growing market. Later on, the whale gained back the funds that he or she injected into the market.

Ads

As of now, the whale address holds the same amount of BTC as it did back in January 2021 and will most likely start accumulating the funds back. The main reason behind such a sudden sell-off is unclear.

Luckily, the market seems to avoid or ignore such a large sale, meaning that if a whale even realized his/her funds, it went through an OTC deal rather than a regular market sell order.

Anyway, the reason behind such a sudden sale remains unclear, considering Bitcoin’s successful recovery on the market. But at the same time, the whale could have simply decided to liquidate a large part of his/her portfolio for the relatively good price of $23,000 rather than $17,000.

The last massive sale made from the wallet did not affect the cryptocurrency market.



Learn more

Latest news

AllianceBlock Token Plunges 51% After $5M Exploit of Bonq DAO

New ALBT tokens will be minted and airdropped to the affected wallet addresses. Learn more

How To Create A Strong Community To Boost Your Brand

CEO and cofounder of Corite, a startup that allows fans to invest in their favorite artists and share...

Elon Musk’s Twitter ‘Slaps’ Dogecoin (DOGE) Army, Here’s What Happened

Yuri Molchan Twitter has suspended tool that allowed users to tip each other on Twitter using Dogecoin Contents Twitter suspends Doge...

Frontier Airlines launches all-you-can-fly summer pass for $399

Frontier Airlines is launching a new all-you-can-fly summer pass allowing travelers unlimited flights over the warmer months for an...

Stocks moving in after hours: Meta, Elf, Align

Meta (META)Meta Platforms shares soared after the social media giant announced fourth quarter sales of $32.17 billion which...

Stock spikes after better-than-expected revenue, buyback announcement

Meta (META) reported its Q4 2022 earnings today after the bell, and the Facebook parent beat key revenue...

Must read

AllianceBlock Token Plunges 51% After $5M Exploit of Bonq DAO

New ALBT tokens will be minted and airdropped...

How To Create A Strong Community To Boost Your Brand

CEO and cofounder of Corite, a startup that...

Elon Musk’s Twitter ‘Slaps’ Dogecoin (DOGE) Army, Here’s What Happened

Yuri Molchan Twitter has suspended tool that allowed users...

You might also likeRELATED
Recommended to you