Blockchain data indicates the reappearance of the elusive mega whale from 2010, who expended 2,000 BTC valued at 8 million on May 22, 2024. The large transfer marks the fourth occurrence of this whale this year, with a cumulative expenditure of 7,000 BTC worth over 6 million. Blockchain Parser Data Reveals 2010 Whale’s Bitcoin Transfers […]
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Bitcoin Whale From 2013 Resurfaces, Moves Over 1,000 BTC Worth $61 Million
On May 12, as bitcoin hovered slightly above the ,000 mark, two dormant bitcoin wallets, inactive for over ten years and eight months, executed transactions totaling 1,000 bitcoins valued at approximately .1 million. It appears that both wallets, created on the same day, were owned by the same individual. Dormant for a Decade: Bitcoin Wallets […]
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Ethereum Foundation Moves 1,000 ETH – Is The Top In?
The Ethereum Foundation, a non-profit organization that supports the Ethereum ecosystem, recently transferred a significant amount of ETH. Given what this transaction could imply, it has drawn the crypto community’s attention, which is already speculating about whether the market top might be in.
Ethereum Foundation Moves 1,000 ETH
On-chain analytics platform SpotOnChain revealed in an X (formerly Twitter) post that the Ethereum Foundation transferred 1,000 ETH ( million) to a middle multi-signature wallet (0xbc9) on May 8. This development is more concerning as SpotOnChain revealed that the Foundation has made other transactions since the start of 2024.
According to the platform, the Ethereum Foundation has sold 1,766 ETH for 4.81 million DAI at an average price of ,725 for each ETH. These transactions are said to have occurred in “several small batches via the same multi-signature wallet. Interestingly, SpotOnChain noted that these transactions often occur ahead of a price drop.
It is worth mentioning that the Ethereum Foundation already has a reputation for selling at the top, suggesting that their selling ahead of a drop might not be a coincidence. In 2022, NewsBTC reported that Ethereum dropped by 40% after the Foundation sold off 20,000 ETH. Meanwhile, in 2021, ETH experienced a downtrend for months after the organization sold off 35,000 ETH.
Journalist Colin Wu also revealed back then that Ethereum’s founder, Vitalik Buterin, had persuaded the foundation to “sell 70,000 ETH at the top of 2018 to support the work of developers.” Wu further claimed that the Foundation’s sell-off is a “normal operation, but it also means that the Foundation thought that bear market was coming.”
Therefore, from Wu’s revelation, one can deduce that the Ethereum Foundation could have an idea of when the market top is, which prompts them to always make these sales before ETH makes a significant decline.
An ETH Decline May Already Be On The Horizon
A crypto analyst known as Shin Forex recently predicted that Ethereum could soon drop to as low as ,500. The analyst explained that there has been a slowdown in liquidity flowing into the Ethereum ecosystem. This could affect ETH’s price since it suggests a lack of interest in the token among investors.
From a technical analysis perspective, Shin Forex also revealed that the ETH/BTC pair has now broken below its support of 0.05. Ethereum is said to have experienced a significant crash when this happened in the market cycles in 2016 and 2019. As such, the analyst does not doubt that ETH will likely spiral down again, with the crypto token dropping to as low as ,500.
At the time of writing, Ethereum is trading at around ,000, according to data from CoinMarketCap.
DOGE Price Set For Rebound? Whale Moves $26 Million In Dogecoin Off Robinhood
The price of Dogecoin has been experiencing a significant amount of bearish pressure in the past few days. This recent decline coincides with a general market downturn, which has seen other large-cap assets like Bitcoin and Ethereum tumble with notable losses.
However, the meme coin’s price might not be down for too long, especially after a major investor executed a massive transaction off a centralized exchange. The transfer, which an on-chain data tracker flagged, has sparked speculations in the DOGE community and could be bullish for the meme coin’s price.
Whale Transfers 150 Million Dogecoin From Robinhood
According to data from blockchain transaction tracker Whale Alert, a substantial amount of Dogecoin has made its way off the Robinhood exchange. In the past day, an outgoing transfer of 150 million DOGE tokens, equivalent to more than million, from the crypto trading platform was spotted on the Dogecoin blockchain.
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150,000,000 #DOGE (26,036,962 USD) transferred from #Robinhood to unknown wallethttps://t.co/Z4P1JnNtsb
— Whale Alert (@whale_alert) April 12, 2024
Given the magnitude of this transaction, it appears that a whale was behind this movement of funds. Whales refer to influential entities or individuals that own or hold significant amounts of a particular cryptocurrency in their wallets (Dogecoin, in this case).
Whales are often perceived as major players in the crypto market, as their buying and selling activities can have a substantial impact on a token’s price. As such, their actions can be worth keeping an eye on, especially as they can lead to speculations and potential market shifts.
This particular transfer, where the Dogecoin whale moved their tokens from an exchange wallet to a self-custodial wallet, is known as an “exchange outflow.” Typically, investors move their assets off trading platforms when they intend to hold onto their coins in the long term, indicating their faith in the future promise of the crypto.
Additionally, the movement of funds off exchanges can sometimes be a signal of fresh accumulation, as some investors prefer to withdraw their tokens immediately after purchase. All in all, considering the large-scale nature of the transfer, the latest movement of Dogecoin tokens off Robinhood might be a bullish proponent for the meme coin’s price.
Meme Coins Facing Turmoil?
As of this writing, the Dogecoin price stands at around .1496, reflecting a notable 12% decline in the last 24 hours. The largest meme coin is down by close to 20% on the weekly timeframe, according to CoinGecko data.
However, Dogecoin is not the only meme token to have witnessed this massive downturn in price, as other coins also posted double-digit percentage losses. Notably, the second-largest meme coin, Shiba Inu, is also deep in the red, with an almost 14% price drop in the past day.
US Govt Moves $90 Million in Bitcoin, ETH From Estonian Scammers
In the early US hours, Arkham Intelligence reported that the United States government had transferred over million worth of Bitcoin and Ethereum, previously seized from two Estonian nationals involved in a vast cryptocurrency fraud and money laundering scheme. This move captured the attention of the cryptocurrency community, just days after the transfer of approximately billion in Bitcoin related to the infamous Silk Road marketplace.
Arkham Intel, utilizing its advanced tracking technology, noted that just two hours ago, the US government executed multiple transactions involving the seized digital assets. These included the transfer of 0.69 BTC, worth approximately .750, and another 374 BTC, valued at around .80 million, to a newly identified Bitcoin address (3GoRwyQvAJhX3conyuq355JiBD9FyfXAQe).
Additionally, 218.5 BTC, worth .49 million, were also moved to the same address, along with 4.567K ETH, equating to .21 million. Just minutes prior to press time, another 0.0001 BTC and 0.5 BTC were moved to another new address (3LNW8R3AfDQgVCB9sQPwChyG47ktSjh3f3).
Both the Bitcoin and Ethereum addresses are new and previously unknown to Arkham, suggesting a strategic consolidation rather than an immediate liquidation of assets.
The seized funds originate from Sergei Potapenko and Ivan Turõgin, two Estonians arrested in their home country in October 2022 following an 18-count indictment by a grand jury in the Western District of Washington.
The duo was implicated in orchestrating a 5 million cryptocurrency fraud through their ventures, HashFlare, a cryptocurrency mining service, and Polybius Bank, a virtual currency bank that never existed nor returned promised dividends to investors. Their elaborate scheme not only involved fraudulent equipment rental contracts but also utilized shell companies for laundering the proceeds to acquire luxury real estate and vehicles.
In September last year, the Estonian government approved the extradition of Potapenko and Turõgin to the United States. Estonian Prime Minister Kaja Kallas revealed at that time that the decision had been made at the government level.
Today’s transactions by the US government follow a precedent set by the movement of Silk Road’s bitcoins. Notably, 2,000 BTC from the Silk Road haul were transferred to a Coinbase wallet, while the remainder were relocated to a wallet identified by Arkham as belonging to the government.
This pattern indicates a systematic approach by the US government to handling seized digital assets, focusing on consolidation before any potential future actions.
As the crypto market observed these developments, the price of Bitcoin has remained stable, hovering above ,000. The significant amount of funds involved and the government’s handling of such assets continue to be a point of interest for both investors and observers within the crypto space.
Contrary to common belief, it’s important to note that the US govt normally doesn’t sell Bitcoin or Ether at the open market. “The Silk Road US GOV coins FUD is literally just FUD. The government doesn’t slam market sell on public orderbooks. If it’s getting sold it either already or will be sold OTC/auction,” crypto analyst Byzantine General noted two days ago.
At press time, BTC traded at ,311.
Solana Whales Are Making Moves – Here’s The Direction They’re Headed In
The price of Solana had briefly crossed 0 before tumbling back down in the last week. This move has triggered a wave of movement across the market, and whales are now showing their hands. Over the last day, there have been a number of notable whale transactions and their destinations could give an inkling as to how these large crypto investors are looking at the market right now.
Solana Whales Move Hundreds Of Millions Worth Of SOL
The whale movements began on Monday when the market had first begun to slow down, with the Solana price falling below 0. The on-chain data tracking platform Whale Alert, reported these transactions, a number of which seemed to happened right next to one another.
The first transaction was one carrying 993,453 SOL which was worth 9.55 million at the time. Then minutes later, the tracker reported the movement of another 1,895,729 SOL worth 1.7 million. Not too long after, it reported a third transaction carrying 1,096,940 SOL worth 9.29 million. Then, the last transaction in this row of transactions was 1 million SOL, valued at 0 million at the time of the transaction.
Now, all of these Solana transactions had originated from unknown wallets and their destination were also unknown wallets. This means that the owners of these wallets are not publicly known and their addressed have not been tagged. In such cases, it could suggest that these whales are selling their tokens over the counter in order to minimize the impact of their selling on the market market. However, it could also be that these whales are just redistributing their coins.
Nevertheless, the whale movements didn’t end here as a couple of hours later, the on-chain tracker would report the movement of massive amounts of SOL once more. This time around, a whale moved 149,999 SOL worth a little over .79 million from an unknown wallet to the Binance exchange.
This transaction deviates from the previous four transactions in the fact that its destination is a crypto exchange. Usually, when investors move their coins to exchanges such as Binance, it is to sell their tokens and a .79 million sale could put a lot of pressure on the SOL price.
The next whale transaction reported after this was an amore positive one though which involved the movement of 146,121 SOL worth .83 million from the Kraken exchange to an unknown wallet. In this case, it is likely that the whale is withdrawing their coins for safekeeping as they wait for better prices. This reduces the selling pressure on the asset.
Even with these whale movements, the SOL price continues to hold up quite nicely. If the selling pressure continues to fall and the pressure from Bitcoin’s price decline is finally lifted, then SOL price could quickly rally above 0 once again.
Vintage Bitcoin Vaults Awaken — Over $41M in BTC Moves After 11.7 Years of Slumber
On Friday, March 29, 2024, an early bitcoin enthusiast who acquired their holdings in 2012 transferred 100 bitcoins, valued at approximately .98 million, at block height 836,813. Roughly 42 blocks later, at block height 836,855, another individual, or possibly the same entity, relocated 500 bitcoins from a wallet established on July 13, 2012, now estimated […]
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Prisma Finance Suffers $11.6M Hack in Liquid Staking Shockwave, Moves to Mitigate Fallout
The decentralized finance (defi) entity, Prisma Finance, has fallen prey to a security breach, with onchain detectives revealing that .6 million has been pilfered from its liquid staking protocol. Prisma Finance in Turmoil: .6M Lost to Hackers, Emergency Measures Activated On a recent Thursday, blockchain surveillance and safety squads from Peckshield and Cyvers reported the […]
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Fifth Largest Bitcoin Whale Moves $6 Billion In BTC, Here’s The Destination
The crypto community’s attention has been drawn to a Bitcoin whale who recently moved a huge portion of their BTC holdings across different wallets. This action has sparked the curiosity of those in the community about the reason for these transactions.
Bitcoin Whale Moves Billion In BTC
Blockchain analysis platform Arkham Intelligence first brought this occurrence to the community’s attention when it mentioned in an X (formerly Twitter) post that the Bitcoin address (37XuVSE) had moved over billion in BTC to three new addresses.
As part of the transactions, .03 billion worth of BTC was sent to one of these addresses (bc1q8yj), while the two other addresses (bc1q6m5 and bc1q592) received 1.46 million and 8.40 million worth of BTC respectively. Arkham added that one of the wallets (bc1q592) has since then proceeded to transfer the received funds to another wallet.
Notably, the wallet which moved billion in BTC was before now the fifth richest Bitcoin address having held over 94,500 BTC in its wallet. As of now, it still holds 1.31 BTC in the wallet in question. Interestingly, before now, this address was dormant as it had not moved any of this BTC which it received since 2019.
Transactions of such magnitude are always sure to cause a stir in the crypto community, considering the impact such whales can have on the market. Usually, a move like this can cause community members to speculate that the whale may be looking to offload their tokens and take profits. However, the fact that these transactions weren’t made to exchange-linked wallets has quelled such speculations.
Another BTC Whale On The Rise
Bitcoinist recently reported on BlackRock’s Bitcoin wallet, which has continued to accumulate Bitcoin at an astonishing rate due to the impressive demand for its iShares Bitcoin Trust (IBIT). Despite just launching this ETF in mid-January 2024, BlackRock now holds 243,126 BTC for the fund.
BlackRock’s BTC holdings has seen it rise to becoming one of the largest corporate BTC holders, only behind centralized exchanges Binance, Bitfinex, and Coinbase and fellow Bitcoin ETF issuer Grayscale. A sustained demand for the IBIT ETF could however see BlackRock surpass these entities at some point.
That is also something that could reflect positively on Bitcoin’s price seeing as how instituitional demand for the flagship crypto has helped propel it to new highs.
At the time of writing, Bitcoin is trading at around ,500, up in the last 24 hours according to data from CoinMarketCap.
Mega Whale Moves 2,000 Dormant Bitcoins From 2010 in Third Series of Transfers This Month
On March 1, a well-known colossal whale holding bitcoins from 2010 activated 2,000 dormant bitcoins across 40 transactions in a single block. Just four days afterward, on March 5, this entity once more made waves by transferring 1,000 bitcoins originating from the same year. For the third instance in March, this entity has returned, reallocating […]
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