Bitcoin (BTC) hosts have been asking questions after 10,000 BTC sleep since 2013 when he suddenly left the wallet.
On-chain data suggested on August 28-29 confirmed that a large amount of Bitcoin was liquid again after a decade.
The “illegal era” of Bitcoin hit the road
As 5,000 BTC was added to the block this weekend, analysts began to notice surprisingly high transaction volumes for the first time.
In the year Having been in the same wallet since 2013, the money, whose owner is unknown, was soon joined by the same 5,000 BTC a day later.
In total, 10,000 BTC has been moved for the first time since 2013, and hackers on the chain are curious about the whale’s intentions in charge.
An analysis of the access wallets concluded that the funds were not sent to another exchange for sale. Instead, they are split between several new wallets.
Considering the reasoning behind the move, Maartun, a contributor to on-chain analytics platform CryptoQuant, suggested that privacy could play a role.
Quick check @IT_Tech_PL
1. Bitcoin moved to a new address
2. Small amount from new address to many addressesBasically the situation as @ki_young_ju Explained here https://t.co/FHgIJsv24P
– Maartun (@JA_Maartun) August 29, 2022
Martin linked to the comments of CryptoQuant CEO Ki Young Joo, who argued last week that those who own “old” coins, especially in large quantities, should avoid drawing attention to their currently skyrocketing fortunes. In the year In 2013, BTC/USD traded at a high of around $1,165.
For Ki, these coins were minted in the “lawless era.”
“We found that these whales are most likely to: a) be early adopters who accumulate bitcoins by mining and trading, and b) have coins from the Cryptsy bitcoin exchange be ‘hijacked’ (allegedly stolen customer funds),” said a CryptoQuant study from August 3 to the old A slice of fund activities.
Only six such transactions in the history of Bitcoin
But the transactions picked up On-chain analysis source LookIntoBitcoin Creator by Philip Swift at Whale Shadows Indicator.
Related: US Dollar Hits 20-Year High – 5 Things to Know in Bitcoin This Week
By clearly showing the two extremes found in older coins, the data has sparked discussion about its implications for BTC’s price action.
Swift and CryptoQuant have shown that previous such spikes in BTC/USD have marked domestic highs in Bitcoin history.
Even other social media analysts proposed that The funds are tied to the rehabilitation process of the damaged exchange Mt. Gox.
As Cointelegraph reports, fears that a creditor bailout would begin this weekend have finally turned out to be unfounded, with a massive sell-off.
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