Is this the awakening of sleeping whales?

There are several big bitcoin (BTC) investors who have been holding their holdings in wallets for years. Some of these bitcoin whales haven’t made any transactions for almost 10 years. But, it seems that the recent turmoil in the crypto markets has had an impact on some big bitcoin investors.

The Bitcoin whale that no longer sleeps!

On November 11, Blockchain researcher and developer Kirill Kretov revealed that 7 bitcoin wallets made transactions. It appears that the latter received the funds on July 10, 2011, and each of them contained at least 500 BTC. They transferred a total 3500 bitcoinswhich is $60.6 million, to new digital wallets.

On-chain data confirms that the transactions date from November 11, 2022. The fee for one of these transactions is valued at 0.00011383 BTC, which is just $2. With its transactions, the Bitcoin whale led to the change of the address format from P2PKH to P2SH.

A transfer of 35,000 BTC

It turns out that with the P2SH format, the transactions are performed to a script hash. P2SH therefore contrasts with the more common P2PKH format, which involves a public key hash.

Also, with the P2SH, more data must be provided to perform the operations. In addition, the recipient of the funds may be required to provide a password, before using the BTC.

Nothing new on the horizon?

You should know that the Bitcoin community is used to waking up addresses that have not made any transactions for a long time. In the past, a bitcoin whale transferred over 48,000 bitcoins from Coinbase Pro. At the time, it was CryptoQuant CEO Ki Young Ju who revealed the information. It turns out that the investor had been holding his holdings since 2011.

In addition, in 2021, we noted the movement of 321 BTC for the first time since 2013, by a Bitcoin wallet. Furthermore, during the month of october, a large investor moved up to 32,000 BTC. The whale had kept these funds in its wallet since 2018.

In the middle of the bear market, a Bitcoin whale, who had been keeping his assets since July 10, 2011 on 7 digital wallets, decided to transfer them. She moved $60.6 million worth of bitcoins to new addresses. According to Blockchain researcher and developer Kirill Kretov, the latter have not yet been consolidated.

Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of newsletter daily and weekly so you don’t miss any of the essential Cointribune!

Luc Jose Adjinacou avatar
Luc Jose Adjinacou

Far from having dampened my enthusiasm, an unsuccessful investment in a cryptocurrency in 2017 only increased my enthusiasm. I therefore resolved to study and understand the blockchain and its many uses and to relay with my pen information relating to this ecosystem.

Leave a Comment