Early Bitcoin-era whale moves $630K to Kraken, $5.5M in 2 months
In the year Five days after the creation of the Genesis block in 2009 — and which until recently was untouched — a large bitcoin holder who mined the cryptocurrency transferred another $630,000 to crypto exchange Kraken.
The “ancient bitcoin well” has now moved $5.47 million worth of Bitcoin (BTC) to Kraken over the past two months, blockchain intelligence firm Arkham Intelligence said on Oct. 14.
He added that despite the recent activity, the wallet still holds $75.2 million worth of BTC.
Despite ongoing transfers, Bitcoin Well's large supply of bitcoins is locked up. Source: Arkham
After the transfer, the wallet's remaining 1,127 bitcoins were moved to a new wallet address.
Since the blockchain's infancy, bitcoin addresses don't move money, but some owners may want to withdraw money between transfers.
A separate early Bitcoin whale transferred 10 Bitcoin worth $610,000 to Kraken on October 3. Arkham said the whale had been dormant for at least a decade.
In September, two months after the company went live on the blockchain, Bitcoin followed another whale and woke up 15 years later with $16 million to Kraken.
Bitcoin rallied last week, gaining 7.45% and surging above $67,000 – as the whale appears to be moving to sell off some of its holdings.
Related: Bitcoin dominance hits 3.5-year high as altcoins lag behind
Over the past year, Bitcoin has seen major changes – dropping as low as $28,000 but hitting a new all-time high of $73,000 in March.
The market sentiment tracker Crypto Fear and Greed Index has seen some positive gains, with the latest October 16 update scoring 73 out of 100, which is in the “Greedy” territory it has held for the past two days. .
The last time the index scored above 73 was on July 29, when Bitcoin was around $66,000.
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