Blockchainmedia – A Bitcoin (BTC) whale that has been sleeping or inactive for 15 years has recently moved around US$3.6 million BTC to the Kraken exchange.
According to data from Arkham Intelligence, the Bitcoins transferred were mined in 2009, just a month after the launch of the Bitcoin mainnet. The whale’s total holdings are over $72.5 million, making him one of the largest active holders today.
Bitcoin Whale Activity is Shocking
This massive transfer did not stand alone. A few days earlier, another Bitcoin whale also made a significant move by moving $16 million in Bitcoin.
The activity of these two early whales has raised speculation among crypto market observers about the reasons behind the revival of the long-dormant wallet.
Large moves from Bitcoin whales often attract attention because of their potential impact on the market.
When a large whale moves its assets to an exchange, it could signal a possible major sell-off in the future, which could significantly affect the price of Bitcoin.
However, in this case, the purpose of the transfer remains unclear, as the whale’s identity remains anonymous.
History and Significance of Mined Bitcoins
The bitcoins moved by this whale were mined in February or March 2009, just a month after the coin was launched. At that time, BTC was still in its early stages of development and was not widely known.
Holdings of US$72.5 million show that this whale is one of the pioneers in the adoption of Bitcoin, which has now become one of the largest crypto assets in the world.
The crypto community responded to the move with a variety of speculations. Some experts believe that the whale activity could be a preparatory step to enter the market more actively, while others see it as a sign of long-term stability of Bitcoin ownership by large individuals.
However, without any official statement from the whale, all of this remains speculative.
Current Crypto Market Trends
The move comes amidst a dynamic crypto market. The crypto economy is currently estimated to be worth $2.14 trillion, with Bitcoin remaining the most dominant crypto.
In addition, with various regulatory developments and innovations in the crypto sector, the activity of these large whales can be an important indicator of the future direction of the market.
On the other hand, as reported, the IMF has encouraged El Salvador to strengthen oversight and regulation of Bitcoin. This step is relevant considering the large whale activity that can affect market stability.
Strengthening regulations is expected to provide certainty and security for crypto investors, while preventing market manipulation by certain individuals or groups.
Article has been published on Blockchainmedia