A significant transfer of over 40,000 BTC from a bitcoin whale, inactive since 2011, has attracted the attention of the cryptocurrency community.
Details of the Colossal Transfer
The transaction, carried out early on Tuesday, involved the transfer of 40,010 BTC to Galaxy Digital's OTC wallets, valued at approximately 4.7 billion USD. Transfers originated from two interconnected addresses, with the first transferring 20,000 BTC in multiple stages, promptly followed by the second address moving 20,010 BTC. Both transactions occurred during typically low-volume times in the cryptocurrency market.
Speculations on Identity and Sale Plans
The transaction history has sparked various speculations regarding the identity of the whale. Some theories suggest it may involve well-known figures in the crypto space like Roger Ver or even relate to Bitcoin's creator, Satoshi Nakamoto. However, the actual identity remains unconfirmed.
CITE_NA: "This transfer indicates the whale's first-time move to cash out. The address points to a miner from 2011 who moved funds on American Independence Day."
Impact on the Crypto Market
Following the transfer, around half of the whale's original 80,000 BTC remains inactive, while the remainder is distributed across various wallets. The whale is anticipated to continue liquidating in smaller batches to avoid significant market volatility. This transfer is considered one of the largest in recent years and attracts analysts' attention to institutional interests and market trends.
Such large-scale transfers play a crucial role in the cryptocurrency market, affecting its dynamics and capturing the interest of substantial investors.
