Chain analysis company Santiment tweeted on Mar. 13 regarding their latest analysis of ‘whale’ transactions greater than $100,000. Santiment found that transactions involving whales were increasing over the long term. Moreover, such transactions still affected market volatility.
While Santiment focused on the number of whale moves, the quantity in such an event can be astounding. On Mar. 11, a Bitcoin whale moved 5,000 BTC from an address that had lain dormant for several years. That equaled $280 million at the market rate when the BeInCrypto article was published.
Moreover, on Jan. 27, someone moved 31,010 BTC from a wallet that was quiet for two years. At the market rate of the day, the amount of Bitcoin equaled nearly $1 billion. It was one of only 42 wallets known with that volume of BTC in it. The whale tracker BitInfoCharts shows that when the wallet was filled in 2018, the Bitcoin cost $202,000. The site also shows that transaction fees were about $5. Yes, five dollars.