On-Chain Data Reveals Bitcoin Whale’s Aggressive Accumulation of $282,380,000 Worth of BTC Amidst Correction
A wealthy Bitcoin investor has amassed a staggering $282 million worth of BTC since late March, according to blockchain tracking firm Lookonchain. The investor, known as a “whale” in the cryptocurrency world, made the purchases through an address starting with “12QVsfA” and bought a total of 4,380 BTC at an average price of $64,471. Despite the recent drop in Bitcoin’s price, the whale continued to buy more, acquiring an additional 620 BTC worth $39.8 million at the bottom. Overall, the investor has accumulated a total of $282.38 million worth of BTC from Binance since March 21. Another whale was also observed depositing over $77.67 million worth of Bitcoin into the crypto exchange Kraken. While it remains uncertain what this whale plans to do with their coins, depositing them onto Kraken suggests the possibility of selling them on the open market. According to data from crypto service Arkham, this entity has amassed a remarkable $1.68 billion worth of Bitcoin in just a month and a half. As of now, Bitcoin is trading at $63,315, a 14% decrease from its all-time high of $73,737.