A Bitcoin whale has amassed a staggering $282 million worth of BTC since late March, as the leading digital asset struggles to stabilize after reaching record highs. The whale, identified by blockchain tracking firm Lookonchain, made a purchase of 4,380 BTC at an average price of $64,471. Lookonchain states that the whale made an additional purchase of 620 BTC ($39.8 million) at the bottom of the price drop. Overall, the whale has acquired 4,380 BTC ($282.38 million) from Binance since March 21. The whale’s address is 12QVsfAFv5RsHuqx4i9WsNGJPeiYLoN2qo.
In a separate observation, Lookonchain reported that another whale deposited over $77.67 million worth of Bitcoin into the crypto exchange Kraken. The intentions of this whale are unclear, but depositing the coins onto Kraken suggests a potential plan to sell them on the open market. According to data from Arkham, a crypto “de-anonymizing” service, this entity has accumulated Bitcoin worth over $1.68 billion within just a month and a half. The whale deposited 1,200 BTC ($77.67 million) into Kraken, and in total has accumulated 24,755 BTC ($1.68 billion) at an average price of $68,051 from March 1 to April 15. The whale’s address is bc1qcpflj68s3ahy4xajez4d8v3vk28pvf7qte2jmlftvxzfke2u6mqsge3gvh.
As of now, Bitcoin is trading at $63,315, which is a 14% decrease from its all-time high of $73,737.
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Featured Image: Shutterstock/AVA Bitter
