Fifth-Richest Bitcoin Whale Transfers Over $6 Billion in BTC After Years of Dormancy – What’s Going On?
Blockchain investigator firm Arkham Intelligence announced on March 25 that the fifth-richest Bitcoin whale had moved 94,504 BTC worth $6.05 billion to three new addresses.
The Bitcoin wallet address, also dubbed 37X, has been dormant since 2019.
Arkham Intelligence revealed in an X post that the Bitcoin whale began the transfer on March 23. In total, the whale sent 94,504 BTC, allocating $5.03B, $561.46M, and $488.40M worth of BTC to three new wallet addresses.
The 5th richest Bitcoin address just moved over $6 BILLION in BTC to three new addresses.
37X moved almost its ENTIRE BALANCE of 94.5K BTC ($6.05B) in the early hours of Saturday 23rd March, leaving only 1.4 BTC in the address.
The 94.5K BTC had not been moved since 37X… pic.twitter.com/mAjpg0oqnD
— Arkham (@ArkhamIntel) March 25, 2024
The on-chain intelligence company further disclosed that the Bitcoin wallet address now has 1.31 BTC stored, valued at $92.7K.
However, the Bitcoin Whale has recorded minimal on-chain interactions since October 8, 2019, and shows no indications of being associated with an exchange.
This is the fifth-richest Bitcoin wallet address, according to archives from Bitinfocharts.
Meanwhile, the wallet address that received $5.03B worth of BTC from this Bitcoin whale now ranks as the sixth-richest Bitcoin address, with 78,317K BTC.
It should be noted that such a big transfer from a three-year-long inactive wallet is not the first in recent months.
On January 5, an unknown whale transferred 26.9 BTC (worth $1.17M at that time) from Binance to the public address of Bitcoin Genesis Block. Another sizeable BTC transfer from an inactive wallet sent 6,500 BTC to new addresses in November 2023.
Retail and institutional investors have all taken a shine to
