The rise in cryptocurrencies that began with the Donald Trump events last Saturday continued on Monday, turning attention to Bitcoin prices. Bitcoin price surged to $64,988 during this period but later pulled back slightly. This situation saw some whales also taking action. So, what happened on the whale side? Let’s take a look together.
BTC Whale Takes Action
An important transaction was carried out by a whale who bought approximately 12 years ago and remained inactive for a long time. This whale moved about 1,000 BTC, drawing all attention.
According to information revealed by Whale Alert, known for tracking whale transactions in cryptocurrencies, this old wallet address managed by the whale moved its BTCs to 2 different addresses on Sunday.
According to data provided by BitInfoCharts, this amount of 1,000 Bitcoins owned by the whale was purchased in September 2012 when its total value was only $12,223.
Considering BTC’s price of $63,700 at the time of writing, the value of the mentioned BTCs exceeds $63.7 million, which can be described as an incredible increase of 530,000%.
The wallet detected by Whale Alert had been dormant for a long time. Although it was seen that BTC purchases were made a few more times in the last 12 years, there was a widespread belief that these were carried out by attackers trying to access the wallet rather than by the person.
In the mentioned attack method, small amounts of cryptocurrency are sent to wallets, and attackers try to track the transaction activities of the targeted wallets to identify individuals or companies. If the wallet owner can be identified, these cryptocurrencies can be seized through blackmail and threats.
What Is the Bitcoin Price?
BTC price rose to just below $65,000 after the recent surge. It then fell, and the price dropped to $62,350 early today.
As of the time of writing, BTC is trading at $63,724 after a 1.38% increase in the last 24 hours. The price movement in BTC over the last 7 days shows a 10.45% increase.
Meanwhile, BTC’s market cap continues to stay above $1.257 trillion, and its trading volume continues to rise rapidly, surpassing $41 billion in the last 24 hours.
