This week, blockchain observers noticed that the “37X” wallet, once holding the title of the fifth-largest bitcoin wallet, was activated for the first time since 2019. This significant move involved the transfer of 94,504.03 bitcoin into three distinct addresses. One of these recipient wallets has now risen to become the sixth-largest bitcoin holder, showcasing a […]
Bitcoin News
Unlocking Crypto History: 2,000 ETH From Ethereum’s Genesis Days Suddenly Moved
In recent weeks, Bitcoin.com News has chronicled the significant number of dormant bitcoin addresses that have sprung to life in March after years, if not a decade, of inactivity. Similarly, we’ve observed a resurgence of activity from older ethereum addresses. This Saturday highlighted a noteworthy event: an individual who took part in the Ethereum initial […]
Bitcoin News
Mega Whale Resurfaces: 1,000 Vintage Bitcoins From 2010 Moved as BTC Peaked at $69,210
On March 1, 2024, an infamous and vast bitcoin mega whale moved 2,000 vintage bitcoins from 2010 and now, four days later, on March 5—the day bitcoin hit its peak value of ,210 per coin—the same entity transferred another 1,000 bitcoins from 2010. 2010 Bitcoin Whale Moves Millions as Prices Peak This prominent whale, known […]
Bitcoin News
Sleeping Bitcoin Wallets Awake: Over $14 Million in BTC Moved From Long-Inactive Addresses
Based on the latest onchain data, on Jan. 27, 2024, a wallet established on Aug. 28, 2013, transferred 115.50 bitcoin valued at .84 million, marking its first activity in more than a decade. Furthermore, two dormant accounts from 2017 also executed transactions on Saturday, moving a total of 218.49 bitcoin, equivalent to .16 million.
Inactive Bitcoin Holdings Stir — Million Transacted from 2013 and 2017 Wallets
This past weekend witnessed the movement of 333.99 BTC, valued at million based on current bitcoin exchange rates, after remaining untouched for several years. The first transaction originated from a wallet created on May 2, 2017, exactly six years and eight months prior, involving a transfer of 125 BTC. This activity was first detected by btcparser.com.
Furthermore, Blockchair’s Privacy-o-Meter, assessing transaction traceability through diverse tracking methods, assigned this transfer a score of 3 out of 100, indicating a “critical” level. For example, the transaction involved identifiable matched addresses. The second transaction originated from an older wallet, established a decade and four months ago on August 28, 2013. This wallet, known as “1NJSa,” executed a movement of 115.50 BTC and received a privacy score of 45 out of 100, classified as a “low” privacy rating.
The final transaction on Saturday traced back to February 23, 2017, when the wallet was created. This wallet, labeled “1HmbW,” dispersed 93.49 BTC at block height 827,676, after lying dormant for six years and 11 months. It garnered the same privacy score as the 2013 transaction, a “low” 45 out of 100, due to matched addresses being identified.
January 2024 has observed a subdued beginning in terms of activity for so-called ‘sleeping bitcoin’ and particularly for addresses from the 2011 and 2010 period. This month saw two movements from 2010, including a minuscule dust transaction of 0.00000547 BTC and another dispersal of 50 BTC from a 2010 block reward. Additionally, 95 BTC were moved in four separate transactions from addresses originating in 2011. Meanwhile, only two transactions from 2012 ‘sleeping bitcoins’ were noted, totaling 20 BTC across both onchain activities.
What are your thoughts on the dormant bitcoin wallets from 2013 and 2017 waking up this weekend? Share your thoughts and opinions about this subject in the comments section below.
Gamma Heist — Over $3M in Digital Assets Drained, 1,000 ETH Moved to Tornado Cash
On Jan. 4, the decentralized finance protocol Gamma Strategies was a victim of a hacking attack which saw criminals make off with digital assets worth over million. To pre-empt further attacks, Gamma Strategies said it has shut off all deposits on any of its “public-facing vaults.”
Hacker Transfers 1,000 Ethereum to Crypto Tumbler Tornado Cash
On Jan. 4, 2023, the decentralized finance (defi) protocol Gamma announced its platform had been breached in a cyber attack, resulting in the theft of digital assets valued at several million dollars. In response to thwart additional security breaches, Gamma reported it has ceased all deposits into its “public-facing vaults.”
According to a series of alerts issued by the blockchain security company Peckshield, the exploiter-labeled address has been transferring or swapping digital assets from the hack. For instance, the security firm said it detected that the exploiter address “bridged and transferred 800.5 $ETH (worth ~.8M).” Before this, the exploiter address had moved 1,000 ETH to the decentralized cryptocurrency tumbler Tornado Cash.
Our vaults have 4 main sources of deposit protection against flashloans:
1.) Mandating a ratio of token0 and token1 in accordance with the ratio in the pool
2.) Setting a price change threshold, such that deposits will be disallowed when price change exceeds a certain amount
3.)…— Gamma (@GammaStrategies) January 4, 2024
In a post on X, the Gamma team insisted that the steps taken so far, including shutting down deposits, effectively nullify further attacks. The team nevertheless suggested that the set price change threshold might be the reason why the protocol became a victim of the attack.
“The main issue is with the settings we placed on (2) the price change threshold. It was placed too high allowing for up to 50-200% price change on certain LST and stablecoin vaults. This allowed the attacker to manipulate the price up to the price change threshold and mint a disproportionately high number of LP tokens.,” the Gamma team said.
To prevent hackers from carrying out a similar attack, Gamma said it is setting all price change thresholds to “a safe threshold level.” Additionally, third parties will now be required to review the code before the deposit functionality is reopened. Gamma has also promised to maximize “recovery for all affected users.”
What are your thoughts on this story? Let us know what you think in the comments section below.
300 Million Dogecoin (DOGE) Moved To Robinhood As Price Swells
The Meme-based cryptocurrency Dogecoin (DOGE) has recently experienced a significant increase in whale transactions during an improvement in the crypto asset’s price.
300 Million Dogecoin (DOGE) Dumped In Crypto Exchange
Data from the on-chain crypto tracker Whale Alert recently revealed that a massive amount of Dogecoin (DOGE) was transferred to Robinhood. This whale transaction has attracted the interest of traders and investors in the larger cryptocurrency space.
According to the crypto tracker, the transfer was orchestrated by an unknown wallet address earlier today. The wallet address identified as DDuXG.ruc1wwKF sent about 300 million DOGE to the cryptocurrency trading platform Robinhood.
The post read:
300,000,000 #DOGE (25,033,123 USD) transferred from unknown wallet to #Robinhood.
With the current price of Dogecoin, the whale transaction is valued at approximately million. The whale moved the substantial Dogecoin haul to Robinhood for a comparatively low network cost of just .18. This is most likely by taking advantage of times when fees and congestion were low.
The transfer of DOGE to Robinhood suggests that the whale is looking to sell the tokens, igniting speculation in the larger cryptocurrency market. However, it seems that the meme-based cryptocurrency’s price increase runs counter to the tokens being dumped on exchanges.
Currently, the price of DOGE is sitting at .0839, indicating an over 2% increase in price in the past 24 hours. Meanwhile, its market capitalization is also reflecting the same percentage rise at .9 billion, according to CoinMarketCap.
A similar whale transaction was also flagged by the on-chain tracker recently. In October, a similar transaction of 300 million DOGE tokens occurred thrice, while last month also saw a similar transaction twice.
Large-scale individual transactions usually come with the danger of crashes due to fast liquidations or market manipulation. However, there is no solid evidence that the whale transaction had any impact on the token’s price.
The Crypto Asset’s Holders Increases Significantly
Dogecoin has shown a significant uptick in its total number of holders lately. Analytics firm IntoTheBlock revealed that the total number of addresses holding a balance exceeded 5 million this week, and reached a high of 5.02 million on November 27. A major factor contributing to the rise in new Dogecoin addresses is the cryptocurrency’s increasing adoption and interest.
The on-chain analytics firm also revealed that the numbers have been increasing gradually since the start of the year. “This recent activity is most likely driven by Dogecoin “Doginals”, which don’t require a significant on-chain balance of $DOGE,” IntoTheBlock said.
DOGE trading at .0833 on the 1D chart | Source: DOGEUSDT on Tradingview.com
Bitcoin Alert: $137 Million Moved By Long-Sleeping Whale, Market Braces For Impact
Recently, the crypto community witnessed a notable event as a dormant Bitcoin whale, inactive for nearly four years, returned to the market.
According to data from the crypto analytics platform Lookonchain, this enigmatic entity transferred 3,623 BTC, worth roughly 6.94 million, to two newly created wallets.
Market Speculations And Potential Impact
This mysterious investor initially accumulated their Bitcoin holdings at an average cost of ,889 per unit from October 25, 2018, to December 31, 2019. Initially, the total investment stood at approximately .96 million.
However, at present market conditions, this investment has grown significantly and is now estimated to yield around 2 million in profits.
The transaction’s significance extends beyond its sheer magnitude. It is particularly noteworthy for its timing, aligning with Bitcoin’s recent surge to a peak price not seen since May of the previous year, reaching around ,400 per Bitcoin.
A whale that had been dormant for ~4 years transferred all 3,623 $BTC(6.94M) to 2 new wallets 1 hour ago.
This whale accumulated 3,623 $BTC(.96M) at ~,889 from Oct 25, 2018 to Dec 31, 2019.
At current prices, the profit is ~2M.https://t.co/QL3fPiV900 pic.twitter.com/wrMe4loIwm
— Lookonchain (@lookonchain) November 30, 2023
The sudden activity of this substantial Bitcoin holder has sparked speculation and discussions within the crypto community. On the X platform, a user pointed out the timing of the whale’s movement as it coincides with Bitcoin’s recent rally to a significant high.
This observation has led to conjectures about the whale’s potential insider knowledge or strategic market insights, especially considering the substantial profit they are currently sitting on.
Notably, the actions of large-scale holders, often dubbed ‘whales,’ can exert considerable influence on the crypto market. A transaction of this magnitude could signal various strategic moves, ranging from portfolio restructuring to preparing for a market exit.
Such movements are closely monitored as they can provide insights into market sentiment and potential trends.
A Closer Look At The Bitcoin Whale’s Strategy
Delving deeper into the whale’s investment strategy reveals a calculated approach to Bitcoin accumulation. The purchase of Bitcoin at an average cost of ,889 per BTC during the 2018-2019 period indicates a strategic entry during a time when the market was relatively bearish.
The subsequent hold for four years through various market cycles underscores a long-term investment mindset, contrasting with the short-term trading strategies often seen in the crypto space.
The recent awakening of this whale and the transfer of a significant portion of their holdings to new wallets might indicate a shift in strategy. While it’s speculative to predict the whale’s next move, this could involve cashing out on some of their investments or redistributing assets for diversification.
It’s also plausible that the whale is positioning for new investment opportunities within the crypto space, potentially in sectors such as decentralized finance (DeFi) or non-fungible tokens (NFTs).
Regardless, Bitcoin is currently in a downtrend following its climb above ,000 yesterday. The asset now trades at ,704, at the time of writing, down by 0.4%.
Featured image from Unsplash, Chart from TradingView
Dormant $144M in Bitcoin From Defunct Abraxas Darknet Market Moved After Years of Inactivity
According to the onchain analyst Zachxbt, 4,800 bitcoins taken from the now-defunct darknet marketplace Abraxas were transferred to a bitcoin mixing service. Abraxas exit scammed in November 2015 after less than a year, and the bitcoins had remained untouched since then.
4M in Bitcoin from 2015 Abraxas Scandal Suddenly Moved to Mixer
Zachxbt reported on the social media site X (formerly Twitter) that the 4,800 bitcoins, valued at 4 million, from an Abraxas wallet were moved to a mixing service.
“An entity moved ~4800 BTC (4M) originating from Abraxas darknet market which exit scammed in Nov 2015 after previously sitting dormant,” the analyst said on Monday. “They consolidated funds and also deposited [them into] a bitcoin mixer,” Zachxbt added.
When Abraxas defrauded its customers and vendors, bitcoin was trading at 6 per unit on the day the marketplace disappeared. This means the stolen bitcoins from Abraxas were worth about .85 million at that time.
Abraxas began its operations roughly at the same time as the notorious darknet marketplaces Alphabay and Agora, launching on Dec. 13, 2014. Data from gwern.net shows that the site became inaccessible on Nov. 5, 2015, and the bitcoin wallets were emptied in March 2016.
Following Abraxas’ exit scam, vendors and marketplace users frantically looked for new darknet marketplaces. In the process, several of these new platforms also defrauded their users. Research indicates that Agora also shut down around that period, leading both Agora and Abraxas users to migrate to Alphabay.
Subsequently, Alphabay rapidly became the leading DNM until law enforcement seized it in July 2017. The reason for the recent movement of the Abraxas bitcoin stash remains unknown, except for the fact that the funds are now worth 2 million more than they were in 2015.
What do you think about the Abraxas’ bitcoin moving? Share your thoughts and opinions about this subject in the comments section below.
Chainlink Whales Moved Around $150M In LINK Before Latest Surge: Data
On-chain data shows the Chainlink whales showed some high activity right before the latest surge in the cryptocurrency took place.
Chainlink Whales Made Moves Before LINK’s 3% Surge
As pointed out by an analyst in a post on X, whales and institutional investors have shown an increasing amount of activity recently. The relevant indicator is the “large transactions volume” from the market intelligence platform IntoTheBlock, which keeps track of the aggregate volume of Chainlink transactions larger than 0,000.
Generally, the whales and institutional entities are the only investors capable of shifting such a large amount with a single transaction. These holders carry large balances in their wallets, making them influential on the network.
When the value of this metric is high, it means that these humongous investors are moving around large amounts right now. Such a trend implies that these investors are participating in some trading activity.
However, this metric alone can’t discern exactly what kind of activity it is, as both selling and buying transactions appear the same on the blockchain and count towards this volume.
On the other hand, when the indicator has low values, it suggests that the whales and institutional players aren’t interested in the cryptocurrency as they aren’t making too many moves. Now, here is a chart that shows the trend in the Chainlink large transaction volume over the past few weeks:
As displayed in the above graph, the Chainlink large transactions volume registered a spike recently, implying that the whales had been moving many tokens across the network.
At the peak of this spike, the whales transferred around 20.38 million LINK within 24 hours. This stack would be worth over USD 150 million at the current exchange rate.
It’s uncertain why these humongous holders suddenly showed so much activity, but perhaps the surrounding price action could hint at it. This spike was seen a few days back, and since then, Chainlink has observed some net uptrend.
Thus, the timing of the transactions could suggest two likely possibilities. These large investors bought in anticipation of this rally (perhaps due to some inside information), or their buying is why the price surge found its appropriate fuel in the first place.
Either way, it’s a positive sign that the whales and institutional investors have recently participated in potential accumulation activity. In the coming days, this metric can be the one to keep an eye on, as further activity from these holders could signal that more volatile price action may be ahead.
Once again, though, any future spikes could arise from both buying and selling, so they won’t necessarily be a bullish signal for Chainlink like this latest one turned out to be.
LINK Price
At the time of writing, Chainlink is trading around .74, up more than 3% in the past week.
Have Traders Moved Past Dogecoin? Transactions Plunge 98% Since June
Data shows that Dogecoin transactions have dropped more than 98% since June, a sign that investors have lost interest in the meme coin.
Dogecoin 7-Day Transaction Count Has Dropped To Just 37,300
According to data from the market intelligence platform IntoTheBlock, activity on the DOGE network has really slowed down recently. The metric of interest here is the total number of transactions that the Dogecoin blockchain is observing every day.
When this indicator has a high value, it means that the investors are making a large amount of moves on the network right now. Such a trend implies that the holders have an active interest in trading the cryptocurrency.
On the other hand, low values imply the blockchain is only seeing a few daily transfers, which can be a sign that traders have no interest in using the meme coin currently.
Now, here is a chart that shows the trend in the 7-day average number of daily Dogecoin transactions over the past few months:
As displayed in the above graph, the Dogecoin blockchain observed a high amount of transaction activity during July and the first half of August.
As the second half of August kicked off, however, the indicator’s value saw a steep decline. The reason behind this sharp drop is likely to be the crash that the price of the meme coin saw at about the same time.
Before this crash, DOGE had been trading above the .076 mark, but after it, the asset plummeted toward the low .06 level. Till now, the coin hasn’t been able to recover from this plunge.
Rather, the memecoin’s situation has only become more dire recently, as its price has registered some drawdown even below these lows. From the chart, it’s visible that the transactions on the network have seen a similar fate, as they have dropped to pretty low levels now.
At present, the 7-day average number of daily transactions on the Dogecoin blockchain stands at 37,300, which is quite the plunge compared to the 616,000 spike seen in July.
The current levels are even worse when looking at a longer timespan, as IntoTheBlock notes that the asset had been enjoying 2.1 million 7-day average daily transfers just back in June.
Compared to this high in June, the network activity today has declined by more than 98%, which is a staggering figure. It would appear that almost no one wants to use Dogecoin right now, at least compared to the high interest the coin had seen a few months back.
Historically, rallies have been backed by a high amount of user activity, but as transfers have shown no signs of any recovery recently, it’s not surprising that the meme coin’s price hasn’t been able to display any momentum, either.
DOGE Price
Dogecoin has seen more bearish price action in the past few days as the asset’s value has now dropped below the .058 level.