An individual known as a crypto whale has recently attracted attention for their sudden movement of tens of millions of dollars worth of Bitcoin (BTC) from a dormant wallet. Lookonchain, a blockchain tracking firm, has reported that this deep-pocketed crypto investor has completely emptied their wallet, which had held 687.33 Bitcoin for over a decade.

The transaction took place on May 6th, when the dormant wallet, which had been inactive for 10.3 years, transferred all 687.33 BTC, equivalent to $43.94 million at the time. The whale initially received 687.33 BTC, valued at $630,000, on January 12th, 2014, when the price of Bitcoin was $917. The address associated with this transaction is 15WZNLACuvcDrrBL2btDErJggnaMQtHh5G.

Meanwhile, Ki Young Ju, the CEO of CryptoQuant, revealed last month that newer crypto whales are accumulating almost double the amount of BTC compared to long-term holders. Ju also noted that old BTC tokens are being transferred to new holders following a recent 13-year peak in Bitcoin’s average dormancy rate.

As of now, Bitcoin is trading at $63,835, experiencing a slight decrease in the past 24 hours.

In other news, Lookonchain has identified another whale that is currently sitting on substantial profits after purchasing a significant amount of Ethereum (ETH) last year. According to the on-chain monitoring platform, this investor has begun selling off some of their holdings.

The whale had bought 12,906 ETH, worth $24.39 million, from Binance at $1,890 a year ago and deposited it into Lido. However, on April 30th, when the market experienced a drop, the investor withdrew 7,000 ETH from Lido and deposited it back into Binance on May 6th. The profit made from these transactions amounts to over $16 million.

At present, Ethereum is trading at $3,083, showing a 1.6% decrease in the last 24 hours.

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