Following the transfer of $60 million worth of bitcoins on April 19, after more than nine years of dormancy, another whale has made its move. The whale, who acquired 1,129 bitcoins in 2012 and 2013, has transferred 464 bitcoins worth $13 million for the first time in nine years.
The price of bitcoin has fallen below the $29K zone and is struggling to hold above the $28K region. On Wednesday, a mysterious bitcoin whale transferred 2,071.5 bitcoins worth $60 million at the time of the transaction. This large stash of coins is associated with the Mt Gox saga and a strange bitcoin address (1McUC) that was linked to two significantly large BTC transfers last year.
At 8:19 a.m. Eastern Time on April 21, the Twitter account @lookonchain tweeted about a new whale that sent old bitcoins dating back to 2012 and 2013. “The whale received [1,129 bitcoin] in October 2012 and May 2013, when prices were $12 and $195,” the social media account said. In response to the tweet, one individual speculated that it was “[probably an] OG Silk Road vendor just released.”
Following the transfer of 278.89 BTC by the aforementioned address and the subsequent tweet by the social media account, the address “12At4” sent another 184.23 BTC. So far, the address that once held 1,129 bitcoin has sent a total of 464 BTC worth $13 million at current bitcoin exchange rates. Bitcoin blockchain parsers have been detecting old whales moving dormant coins for years, but statistics from Btcparser.com show that older bitcoins born in 2009, 2010, and 2011 are becoming rare spends.
According to Btcparser.com and further research, a significant number of older Bitcoin transactions have come from 2016 and 2017 in the past few months. The last known transactions from 2009 occurred just over a year ago on April 7 and 8, 2022, when around five Bitcoin block rewards mined in 2009 were spent in a series of transfers. Prior to that, the last time a 2009 block reward was spent was on March 20, 2020, which was nine days after the infamous “Black Thursday” event.
At the time of writing, the “12At4” bitcoin address still holds 665.65 BTC and the owner’s corresponding bitcoin cash (BCH) address still holds approximately 1,128.77 BCH.
What do you think these recent moves by old bitcoin whales mean for the future of the cryptocurrency market? Share your thoughts and opinions in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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Following the transfer of $60 million worth of bitcoins on April 19, after more than nine years of dormancy, another whale has made its move. The whale, who acquired 1,129 bitcoins in 2012 and 2013, has transferred 464 bitcoins worth $13 million for the first time in nine years.
The price of bitcoin has fallen below the $29K zone and is struggling to hold above the $28K region. On Wednesday, a mysterious bitcoin whale transferred 2,071.5 bitcoins worth $60 million at the time of the transaction. This large stash of coins is associated with the Mt Gox saga and a strange bitcoin address (1McUC) that was linked to two significantly large BTC transfers last year.
At 8:19 a.m. Eastern Time on April 21, the Twitter account @lookonchain tweeted about a new whale that sent old bitcoins dating back to 2012 and 2013. “The whale received [1,129 bitcoin] in October 2012 and May 2013, when prices were $12 and $195,” the social media account said. In response to the tweet, one individual speculated that it was “[probably an] OG Silk Road vendor just released.”
Following the transfer of 278.89 BTC by the aforementioned address and the subsequent tweet by the social media account, the address “12At4” sent another 184.23 BTC. So far, the address that once held 1,129 bitcoin has sent a total of 464 BTC worth $13 million at current bitcoin exchange rates. Bitcoin blockchain parsers have been detecting old whales moving dormant coins for years, but statistics from Btcparser.com show that older bitcoins born in 2009, 2010, and 2011 are becoming rare spends.
According to Btcparser.com and further research, a significant number of older Bitcoin transactions have come from 2016 and 2017 in the past few months. The last known transactions from 2009 occurred just over a year ago on April 7 and 8, 2022, when around five Bitcoin block rewards mined in 2009 were spent in a series of transfers. Prior to that, the last time a 2009 block reward was spent was on March 20, 2020, which was nine days after the infamous “Black Thursday” event.
At the time of writing, the “12At4” bitcoin address still holds 665.65 BTC and the owner’s corresponding bitcoin cash (BCH) address still holds approximately 1,128.77 BCH.
What do you think these recent moves by old bitcoin whales mean for the future of the cryptocurrency market? Share your thoughts and opinions in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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Xrp plunged to a multi-week low in Friday’s session, as the token slipped for a third consecutive session. The move pushed prices to their lowest point since late March, with the global market cap trading 2.39% lower as of writing. Cardano also fell to a two-week low.
XRP, formerly ripple, was deep in the red on Friday, as prices fell for a third consecutive session.
Following a high of $0.4838 on Thursday, XRP/USD slipped to an intraday low of $0.4644 earlier today.
As a result of this drop, XRP fell to its lowest point since March 27, when the token was at a bottom at $0.4428.
Looking at the chart, this recent shift in momentum coincided with the 14-day relative strength index (RSI) breaking out of a floor at 57.00.
At the time of writing, the index is tracking at 42.24, which is close to a support point at 41.00.
Should price strength reach this point, then there is a good chance that XRP will hit a price floor at $0.4440.
Cardano (ADA) also fell to a multi-week low in today’s session, as prices moved closer to a key price floor.
ADA/USD dropped to a low of $0.3974 on Friday, less than 24 hours after trading at a peak of $0.4087.
This is the lowest level that cardano has hit since April 12, and comes following a three-day losing streak.
Similar to XRP, ADA’s decline came after the RSI moved below a floor at 52.00. It is currently at a reading of 49.18.
The next visible point of support appears to be at 45.00, and should sellers claim this zone, cardano will likely move to $0.3750.
This level is a long-term price floor, and was last hit on April 6.
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Do you expect further declines in cardano during the weekend? Let us know your thoughts in the comments.
Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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