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Popular cryptocurrency tracker Whale Alert spreads the word about a dormant BTC whale coming back to activity. The last time this wallet happened to show some activity was thirteen years ago.
Dormant and active whales selling Bitcoin
Back then, in 2011, the shadow of the mysterious Bitcoin creator Satoshi Kusama was still in the air as it was just a year after he had went under the radar.
The awakened wallet whose re-emergence was spotted by Whale Alert contained 33 Bitcoins, which is the equivalent of $2,142,474 under the current BTC exchange rate.
💤 A dormant address containing 33 #BTC (2,142,474 USD) has just been activated after 13.0 years!https://t.co/3W6CV0avC8
— Whale Alert (@whale_alert) July 2, 2024
As reported by U.Today earlier, another dormant whale transferred a staggering 8,000 BTC to the world’s largest crypto exchange Binance. That BTC stash was worth slightly more than half a billion US dollars. That wallet, however, after five and a half years – he bought his crypto assets in December 2018.
Recently, however, whales’ activity has increased overall. On Monday, an anonymous whale transferred 1,800 Bitcoins to Binance, according to the @spotonchain analytics account. It happened right before BTC plunged from $63,800 to the $63,000 level. Over the past week, this whale sent 3,481 Bitcoins worth $217 million to Binance.
German and US governments selling BTC and ETH
Over the past few days, reports have been coming about the German and US governments have been selling large amounts of two largest cryptocurrencies – Bitcoin and Ethereum – to crypto exchanges and unknown wallets.
In the past hour, the German and US governments moved $106M worth of $BTC and $ETH to CEX and new wallets, including:
— Spot On Chain (@spotonchain) July 1, 2024
1. The German Government moved out 1,500 $BTC ($94.7M), of which 400 $BTC ($25.3M) went to #Bitstamp, #Kraken & #Coinbase.
• Currently, they hold 44,692 $BTC… pic.twitter.com/XwVJwTVsU5
On Monday, both these entities transferred significant amounts of BTC and ETH. The US government moved 3,375 ETH evaluated at $11.75 million to a newly-created wallet. The German government transacted 1,500 BTC (the equivalent of $94.7 million). 400 BTC from this amount was shoveled to three major centralized exchanges – Bitstamp, Kraken, and Coinbase. It still has 44,692 BTC left. This amount of Bitcoin is valued at a mind-blowing $2.81 billion.
The Ethereum moved by the US government had confiscated it from Estonian crypto entrepreneurs Potapenko and Turogin, according to the Chinese crypto journalist Colin Wu. These two individuals were recently extradited from Estonia to the US on charges of crypto fraud and money laundering.