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Bitcoin Whale: New Player Buys Three Billion Dollars’ Worth of BTC

Bitcoin whale on the loose: While the market is still in crisis with BTC trading below $23,000, a new Bitcoin whale has appeared in the crypto ecosystem.

Bitcoin Whale: New Player Buys Three Billion Dollars’ Worth of BTC

Sparing no resources, they made their first large-scale purchases. In total, the whale proceeded to buy 3 billion dollars’ worth of Bitcoin.

Bitcoin Whale is a New Player

This new whale, still unidentified by the crypto community, appeared in July. The first purchases of this whale were executed on July 15, 2022.

In effect, it only took three days for this mysterious whale to execute all its purchases: 15,499 BTC, which is worth $345.9 million, on July 19.

From then on, 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 dollars at the time of the purchase.

Finally, on July 21, the whale bolstered its wallet by accumulating 71,879 BTC worth $1.64 billion, according to data compiled by BitInfoCharts.

With these purchases made consecutively, this new whale has been propelled to the third position in the list of wallets with the most BTC available in BitInfoCharts. Currently, this new whale owns 0.70% of the BTC in circulation.

The overall balance of this wallet is now 132,878 BTC for a current value of $2.909 billion.

At present, the identity of this new player in the Bitcoin and cryptocurrency market remains unknown, without any clues about the nature of the buyer.

Whether it is an entity or an individual, this whale has undoubtedly contributed to a rise in BTC prices over the past week. In the midst of a bullish rally, this wallet could certainly experience a sharp profit.

Whales remain active in the crypto market

While many institutions are still staying out of the market for now, major whales have been active in the market by bolstering their purses and increasing their accumulation.

While such purchases are still on the cards for Bitcoin whales, market prices have yet to follow the trend, with BTC prices rising only mildly.

As of now, Bitcoin is still more than 65% below its ATH last November ($69,000).

 

Source: beincrypto.com