A Bitcoin whale, dormant for over eight years, has recently moved more than $250 million worth of BTC, according to Arkham Intelligence, a blockchain analytics firm.
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This particular whale acquired the Bitcoin in late 2016, holding it in a single wallet without any activity for nearly a decade. Back in early 2017, the same stash was valued at approximately $3 million.
Yesterday, thanks to the cryptocurrency’s significant price growth, the assets are now worth over $250 million.
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The unexpected activity from this long-dormant address has sparked speculation within the market. Typically, such large transfers can indicate a major shift in strategy, with whales either preparing to liquidate their holdings or redistribute assets for different purposes.
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Additionally, the Bitcoin Exchange Whale Ratio, which tracks the proportion of Bitcoin deposited by large holders on exchanges, has reached levels unseen since the previous year, further fueling concerns.
A rising ratio often suggests that whales are increasing their presence in exchange markets, which could signal impending market changes.
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Alexander Stefanov
