An anonymous Bitcoin whale '19D5J8' has transferred 3000 BTC, worth approximately $353 million, to a new wallet after five years of inactivity.
Transfer of 3000 BTC by Whale '19D5J8'
According to on-chain analytics from Lookonchain, after five years of dormancy, Bitcoin whale '19D5J8' moved 3000 BTC amounting to $353.16 million to a new wallet. This whale holds 23,969 BTC, valued at around $2.82 billion, marking the first known transaction in years for this historically dormant account. The transfer of BTC to a modern SegWit-style wallet suggests security or consolidation motives rather than liquidation.
Market Speculation and Community Reactions
The large transfer has sparked market speculation, highlighting the influence dormant Bitcoin holders can have when reactivating substantial funds. Despite this, there are no indications that the funds entered exchanges or affected liquidity, leaving the broader market undisturbed. Community interest remains high, but no confirmations from major players or institutional investors have emerged.
Bitcoin Market Overview
Currently, Bitcoin (BTC) trades at $117,369.24, with a market cap of $2.34 trillion and market dominance at 58.96%. The recent 24-hour trading volume is $65.47 billion, marking a decrease of 29.76%. BTC's 90-day price reflects a steady 13.01% increase. The Coincu research team notes minimal price movement despite the whale's transfer. Historically, such actions do not lead to massive sell-offs.
The transfer by whale '19D5J8' illustrates interesting market dynamics, but price stability going forward will depend on whether the funds remain out of trading.
