Satoshi-era Bitcoin Whales Transfer $230 Million Worth Of Assets- Here’s What You Need To Know
Three Satoshi-era Bitcoin wallets have transferred about $230 million worth of assets to new addresses after almost six years in the dark.
On-chain data from BitInfoCharts on Nov 2 show three Bitcoin (BTC) whales moved 6,500 BTC sparking trading concerns among the crypto community as this year continues to resurrect large numbers of ancient addresses.
The first wallet transferred 2,000 BTC worth approximately $71 million while the second whale moved 2,550 BTC worth around $90 million. The last wallet sent out 1,950 BTC worth $69 million raising the total to $230 million.
Aside from the huge asset movements, the profits raked in which can be seen in the profits from “price change” has had many talking assuming it was a sale.
Per the data, these ancient holders would rake in $68.9 million, $54.1 million, and $52.7 million respectively at the present market where the asset’s price trades above $34,000.
At press time, bitcoin exchanges hands at $34,827.
Satoshi-era addresses are linked to wallets created over a decade ago. At the same time, whales are characterized by their crypto portfolio usually exceeding 1000 BTC, and can swing the asset price depending on the transaction volume.
Other categories of Bitcoin holders include sharks (holds between 500- 1000 BTC), Crabs (holds 1-10 BTC), and shrimps who make up the bulk of the community with less than 1 BTC.
Although it is not known whether the three transactions are related to one entity, the movements appear similar because of the time assets were transferred and their last activity since 2017.
With the last transactions happening in 2017, the whales remained silent throughout the bull run of 2021 that saw bitcoin price soar over $64,000. The price of the asset took a sharp
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