While Bitcoin (BTC), Ethereum (ETH) and altcoins have attracted attention with their increases in recent days, whales who wanted to take advantage of the rise have also become active.
At this point, Whale Alert, a data analysis platform that tracks the movements of whales, shared that a Bitcoin wallet that had been inactive for 11 years transferred $31 million worth of BTC.
Whale alert added that the wallet’s last transaction was in 2014, and at that time, the value of BTC2 was only $134,144.
While it remains unclear who owns the wallet or for what purpose the transfer was made, it is generally interpreted that the wallet will be sold if it takes action after a long time.
Apart from the Bitcoin whale, a giant Ethereum whale also made a move. According to the post by on-chain data analyst Ember CN, this whale sold over $131 million worth of ETH after a two and a half year HODL period.
This whale, described as having “diamond hands” – a pattern used in the cryptocurrency market – because it has not sold for a long time, first bought 120,874 ETH in September 2022 at an average price of $1,647.
After HODLing Ethereum for nearly two years, the whale sold his last remaining 30,874 ETH (worth $77.71 million) to Kraken.
This whale has been selling ETH to make a profit since May of last year. According to the data, the whale transferred it to Kraken for an average price of $2,732 in 6 transactions in a year, making a total profit of $131 million.
*This is not investment advice.
