Bitcoin whale moves $188M for first time in 7 years

A dormant whale transferred BTC worth $188 million after seven years of holding, adding to the growing ratio of whale transfers to cryptocurrency exchanges.

A wallet last active when Bitcoin was trading near $6,500 transferred $188 million of its holdings in recent days, its first onchain movement in seven years.

With the biggest cryptocurrency now trading at around $64,000 apiece, the whale transferred 2,931 Bitcoin (BTC) from wallet ‘356my’ to wallet address ‘bc1qn’ on Sunday, according to blockchain data platform Arkham. 

The whale is likely looking at a nearly ten-fold gain on the long-dormant holdings, according to blockchain analytics platform Onchain Lens.

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