A Bitcoin whale has accumulated more than $282 million in BTC since late March as the flagship digital asset struggles to find a bottom after hitting all-time highs.
First spotted by a blockchain tracking company Lookonchainan address starting with “12QVsfA” purchased 4,380 BTC worth $282.38 at an average price of $64,471.
Said Lookonchain,
“After the BTC price dropped, this whale purchased an additional 620 BTC ($39.8 million) at the low.
Since March 21, this whale has purchased 4,380 BTC ($282.38 million) at $64,471 from Binance.
Address:
12QVsfAFv5RsHuqx4i9WsNGJPeiYLoN2qo.
On the same day, the company also spotted another whale depositing over $77.67 million worth of Bitcoin into crypto exchange Kraken. While it’s unclear what exactly the whale plans to do with its coins, depositing them on Kraken means it could potentially sell the BTC on the open market.
Citing data from crypto “deanonymization” service Arkham, Lookonchain claims the entity has accumulated more than $1.68 billion worth of Bitcoin in just a month and a half.
“A whale deposited 1,200 BTC ($77.67 million) into Kraken 43 minutes ago.
The whale accumulated 24,755 BTC ($1.68 billion) at an average price of $68,051 from March 1 to April 15.
Address:
bc1qcpflj68s3ahy4xajez4d8v3vk28pvf7qte2jmlftvxzfke2u6mqsge3gvh”
At the time of writing, Bitcoin is trading at $63,315, 14% below its all-time high of $73,737.
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Featured image: Shutterstock/AVA Bitter
