Mysterious Address Dumps 173 WBTC in 10 Hours, Rakes in $11.75 Million in USDC

According to blockchain analytics firm OnchainLens, a notable crypto address has resumed significant WBTC selling activity on February 6.

The wallet has offloaded 173 WBTC within 10 hours, converting the holdings into $11.75 million worth of stablecoin USDC. One major transaction alone involved 100 WBTC valued at approximately $6.71 million.

Onchain Activity Sparks Market Watch

This concentrated selling pattern has attracted market attention. Key observations include:

• Professional-grade transaction timing
• Precise control of sell intervals
• Ongoing tracking of fund destinations

Market analysts suggest such large-scale transfers often signal institutional movements, potentially related to portfolio rebalancing or risk mitigation strategies.