A seven-year-old bitcoin wallet recently transferred 2,931 bitcoins, valued at approximately $188 million, to restart the chain. When the wallet was last active, the price of bitcoin was about $6,500, and the holder is now close to 10 times the earnings.
Transfer details
According to Arkham's data, on Sunday the holder transferred Bitcoin from the wallet “356my” to the new address “bc1qn”, the first transfer of the wallet in the chain since seven years ago. Today, the price of bitcoin is about $64,000, which means that the holder has achieved substantial gains.
Whale transfers dominate the market
Whale transfers continue to dominate the inflow of the Bitcoin Exchange, and CryptoQuant data show that about 99 per cent of the bitcoin currently deposited in the Exchange comes from the 10 largest single transfers. High whale trading rates are usually associated with market-defeating conditions, as large deposits are more likely to occur before large-scale sales.
♪ Silent Wallet Market Attention ♪
Silent wallets are still under market concern, and many old bitcoin wallets are associated with early miners, long-term holders or closed trading platforms. Earlier this year, it was reported that a silent whale had sent 107 bitcoin (valued at approximately $8.3 million) to an unrecoverable destruction site. Another Bitcoin holder retains nearly 6,000 bitcoins while transferring 2,650 bitcoins (values over $200 million) to trading companies FalconX and Cumberland. While these transfers do not necessarily mean immediate sale, market participants maintain a high level of interest in this movement, as early bulk transactions by Bitcoin holders may increase market supply.