The bitcoin ‘whale’ sent $330 million to BitFinex on Wednesday after it had accumulated some $935 million of BTC at an average price of $20,000 between June and January, according to blockchain sleuth Lookonchain. sndr_krisztian reports
, the bitcoin ‘whale’ transferred 11,000 BTC tokens to a BitFinex wallet at a BTC price of $30,114.
Whales are crypto investors who control large amounts of digital assets. Their purchases and sales can have a sizable impact on markets, thus crypto watchers closely follow their behavior to anticipate market movements.The transfer may indicate that the investor who controls the wallet is realizing profits after bitcoin’s remarkably strong performance this year.
Blockchain transactions show that the wallet had been accumulating BTC between June 2022 and January 2023 at an average price of $20,083, per data by Bitinfocharts, a website that tracks the on-chain behavior of largest bitcoin holders. Until mid-March, the wallet was the 14th largest BTC holder controlling more than $1.2 billion of tokens.
Then, the investor transferred 16,000 BTC on March 17 and 9,500 BTC on March 19 from their wallet to BitFinex.The latest maneuver came as BTC, the largest cryptocurrency by market capitalization, has been outperforming the broader crypto markets in the past month.
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