As a seasoned crypto investor with a decade-long journey under my belt, I can’t help but feel a mix of awe and anticipation upon witnessing such significant transactions unfold in the cryptocurrency market. The emergence of a new Bitcoin whale, moving tens of millions worth of BTC, is always a noteworthy event, especially when it comes from the world’s largest centralized crypto trader like Binance. I find it fascinating to observe these digital footprints, as they often hint at potential market trends or whales’ strategies.
As reported by the Smart Money tracker on the X platform (@lookonchain), within the past hour, a significant Bitcoin investor (referred to as a ‘whale’) has surfaced in the market. Approximately tens of millions of dollars’ worth of Bitcoin was transferred from Binance exchange into a newly created digital wallet.
The wallet’s identifier is 4DaAXS, and its user cashed out a staggering $64.47 million in cryptocurrency (approximately 1,015 Bitcoins) from the world’s leading decentralized crypto exchange, Binance.
Additionally, this specific transaction caught the attention of well-known blockchain investigator Whale Alert, who has also detected numerous large Bitcoin transactions in the past.
Approximately 3.3 billion dollars in Bitcoin (around 3,309 Bitcoins) were taken from the Kraken exchange into an unidentified digital wallet. In total, around 238.4 million dollars worth of Bitcoin (1,736 Bitcoins and 2,025 Bitcoins) were moved between untraceable blockchain addresses.
For the past week, Bitcoin, the world’s leading cryptocurrency, has experienced a significant price surge of around 11%. It climbed from approximately $57,600 last Tuesday to the vicinity of $63,890 by Monday. This upward trend was primarily driven and sustained by the substantial interest rate reduction declared by Jerome Powell, the chairman of the Federal Reserve, during the FOMC meeting on Wednesday.
The interest rate was lowered by 0.5 percentage points more than anticipated, with some expecting a decrease of only up to 0.25 percentage points. Now, the Chinese central bank (People’s Bank of China) has signaled its plan to reduce interest rates on multiple occasions throughout this year. As a result, many financial analysts now predict that China’s announcement could serve as a catalyst pushing Bitcoin towards new record-breaking levels, potentially even in 2021.
Bitcoin hit its highest price ever of $73,750 in March, but at present, it’s trading approximately 13.82% lower than that all-time high. Interestingly, this peak occurred prior to the halving event in April this year.
Dormant Bitcoin wallet reactivated with huge gains
As per the Whale Allet blockchain monitoring system, a previously inactive Bitcoin wallet was reactivated, now holding approximately 81 Bitcoins.
Currently, that amount of Bitcoin (BTC) is valued at approximately $5,189,542. In contrast, the same amount was worth just around $44,707 back in 2013. As we speak in 2024, each Bitcoin coin is being traded for about $63,320.
☕ An inactive Bitcoin wallet holding approximately 81 coins (equivalent to about $5,189,542 today) has suddenly become active again after a decade and nine months of dormancy. Back in 2013, its value was only around $44,707 USD.
— Whale Alert (@whale_alert) September 23, 2024
This change in value constitutes an impressive 11,507% profit increase after almost 11 years of inactivity.
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2024-09-24 18:04