Bitcoin whale on the loose: While the market is still in crisis with BTC trading below $23,000, a new Bitcoin whale has emerged in the crypto ecosystem.
Sparing no resources, they made their first major purchases. In total, the whale went on to buy $3 billion worth of Bitcoin.
Bitcoin Whale is a new player
This new whale, not yet recognized by the crypto community, appeared in July. The first purchases of this whale took place on July 15, 2022.
In fact, it only took three days for this mysterious whale to complete all of its purchases: 15,499 BTC, worth $345.9 million, on July 19.
From there, the purchases were more substantial: on July 20 the whale made another purchase of 45,499 BTC. This amount was equivalent to $1,060 million at the time of purchase.
Finally, on July 21, the whale boosted its wallet by amassing 71,879 BTC worth $1.64 billion, according to data compiled by BitInfoCharts.
With these back-to-back purchases, this new whale has reached third place on the BitInfoCharts list of wallets with the most available BTC. Currently, this new whale holds 0.70% of BTC in circulation.
The total balance of this wallet is now 132,878 BTC for a current value of $2.909 billion.
For now, the identity of this new player in the Bitcoin and cryptocurrency market remains unknown, with no indication of the nature of the buyer.
Whether an entity or an individual, this whale has undoubtedly contributed to the rise in BTC prices over the past week. In the midst of a bullish rally, this wallet could certainly make a sharp profit.
Whales remain active in the crypto market
While many institutions are still staying out of the market for now, big whales have been active in the market bolstering their wallets and increasing their accumulation.
While such purchases are still in the cards for Bitcoin whales, market prices have yet to follow the trend, with BTC prices only rising modestly.
So far, Bitcoin is still more than 65% below its ATH last November ($69,000).
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