Silent Whale Makes a Dramatic Return
A long-dormant cryptocurrency whale has re-emerged, depositing 1,000 BTC to Bitfinex after five years of inactivity, according to blockchain monitoring platform Onchain Lens.
The value of this BTC stash is estimated at $67.64 million, with the whale’s original acquisition cost pegged at around $29.28 million, resulting in a tidy profit of approximately $38.35 million.
Strategic Move Sparks Market Curiosity
This isn’t just a routine transfer; it highlights the whale’s astute timing in the crypto market. Five years ago, the address acquired the BTC from Bitstamp and FTX at prices significantly lower than today’s levels.
The decision to move now, after years of dormancy, may signal confidence in the current market dynamics or a strategic play to cash in at favorable rates.
Market Reacts to Whale Activity
Large-scale movements like this often send ripples through the market, prompting investors to pay close attention. While the whale’s next steps remain unknown, its history demonstrates a seasoned approach to crypto trading.
Experts advise retail investors to remain level-headed and not blindly follow the moves of large holders.