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An unidentified individual has amassed over $3 billion worth of Bitcoin (BTC) tokens since May, making it the third largest BTC address in the world.
According to data from BitInfoCharts, this wallet started accumulating in mid-May and by the end of June had become the largest non-crypto exchange holder of Bitcoin.
Since its inception, this portfolio has refrained from selling. The one in question Bitcoin address received varying amounts of BTC, with his initial transaction in May involving 0.25 BTC, while his most recent deposit consisted of 6,600 BTC.
It currently holds 118,300 BTC, which is equal to $3,087,545,354.
Ranked as the third largest address globally, it is closely behind the cold wallets of Binance and Bitfinex. It is likely that this address, which is relatively new, belongs to another crypto exchange that is reorganizing its BTC reserves.
Analytics company Santiment earlier emphasized the continued activity of Bitcoin whales during the recent crypto market downturn.
Despite the significant price drop, significant transactions involving BTC worth $1 million or more continue to take place, suggesting that whales remain active even as the number of large wallets remains unchanged.