After bitcoin and a host of other crypto assets fell in value on Sunday, a number of significant whale movements took place. During Sunday morning trading sessions (EST), a longtime miner conveyed three decades-old coinbase rewards with 150 bitcoins worth more than $ 8.5 million. Later in the evening, just before the switch to Sunday, two major whale deals emerging from Binance resulted in three new huge wallets. One wallet holds 58k worth of bitcoin worth more than $ 3.3 billion based on current exchange rates.
More than $ 4 billion in Bitcoin was moved yesterday
Yesterday, April 18, 2021, Bitcoin.com News along with the help of Btcparser.com and team members of the Telegram channel Goldfoundinsh * t caught some interesting onchain transactions on our radar. This was five days after Goldfoundinsh * t and Bitcoin.com News researchers discovered more than 12k in BTC from the 2016 Bitfinex hack porting to some unknown wallets. That day, bitcoin (BTC) hit an all-time high three times, hitting a final ATH of $ 64,895 per unit on April 14, 2021.
On Sunday, April 18, BTC prices plummeted to a low of $ 51,541 per unit following the massive drop in the SHA256 hashrate and rumors that the US Treasury would reportedly crack down on the crypto industry. During Sunday’s trading sessions, a number of whale movements and even dormant bitcoin transfers took place.
A touch after 11 p.m. (EST), two transactions processed at block height 679,739 and 679,743 turned into three new whale addresses. Bitcoin address tagging shows that the money came from the popular crypto exchange Binance, and the newly created addresses are believed to be new cold wallets.
A member of the Goldfoundinsh * t team discussed the situation with Bitcoin.com News. “These are the first and second whale movements that hit our Btcparser2’s radars last night. The result of two transactions was three new wallets:
- 3LQeSjqS5aXJVCDGSHPR88QvjheTwrhP8N +58,814 BTC – Most likely this is a new cold Binance wallet
- 3ByyPAZmzANfV1sMALVU8zdorPUHEbkZZi +20498 BTC
- 3LYJfcfHPXYJreMsASk2jkn69LWEYKzexb +11,000 BTC
It is not known whether this transfer was a reorganization of Binance wallets or an over-the-counter deal in the works. “After all, we don’t know who will ultimately own the new wallets with thousands of bitcoins,” noted a Goldfoundinsh * t team member. “Surprisingly, the date of such a major reorganization (after all, 68k of that BTC hasn’t been touched since August last year) and yesterday’s significant bitcoin price routing coincide,” the researcher added.
Spent $ 8.5 million in Bitcoin as of 2010 after being inactive for more than ten years
In addition, 150 bitcoin was carried over from 2010 after the price of BTC fell a few hours earlier. All 150 BTCs worth $ 8.5 million today were mined on July 13, 2010, and were likely mined by the same entity. The first coinbase reward was issued at block level 679,688 and after that two more 2010 coinbase rewards were issued at block level 679,692, all from the same day. In April, not many coin-based rewards were transferred in 2010, unlike the recent series releases of 20 block rewards on various occasions.
The last ten-year-old coinbase reward of that year was remitted on April 10, 2021, just before BTC’s ATH four days later. There was also a spend of the same caliber from 2010, the day before April 9. The last time the Mega Whale, which spends 20 block rewards at a time, transferred coins was on March 23, 2021. The whale appears to be skipping in April or it is possible that it will run the run of transferring over 10,000 BTC from 2010 has ended. Be that as it may, bitcoin whales and large crypto fish are moving massive amounts of BTC as prices are higher than ever before.
What do you think about Binance’s massive whaling movement yesterday and the coinbase’s rewards spent in 2010? Let us know what you think about this topic in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons, Btcparser.com, Holyroger.com, Goldfoundinsh * t Team,
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