The Whale BTC entity that has been inactive for more than 10 years suddenly became active again to transfer the entire holdings of the crypto asset on June 8.
Based on data from the on-chain analytics platform Lookonchain, 1,432.93 BTC, worth around $37.8 million, was transferred to a new address, “bc1psv.”
The whale has been hoarding its assets for over a decade, apparently having received 1,432.92 BTC on April 9, 2013, when the price of Bitcoin was trading near $195.4. This is the latest movement in BTC holdings which have been inactive for quite some time in recent months.
It is difficult to determine whether this action of the Whale is motivated by the price drop in the market or lack of sentiment or personal reasons. In April, a Bitcoin wallet that had been inactive for over nine years transferred 2,071.5 BTC (worth more than $60 million). The Whale address received a total of 6,071.5 BTC at the end of 2013 when the price of Bitcoin hovered near $663.
During the same period, another long-term BTC HODLer whose savings had been untouched for 12 years transferred 400 BTC (equivalent to about $11 million) to multiple addresses.
A recent analysis by Glassnode revealed that the massive BTC Whale continues to aggressively accumulate major cryptoassets.
