After the price of Bitcoin hit a vital support level of $50,000, the third-largest Bitcoin holder on record added a whooping BTC 2,700 to their wallet, valued at $137 million (approximately Rs. 1,033.63 crores) (roughly Rs. 37.72 crores). Bitcoin whale accounts have been aggressively selling over the last week, particularly following the large drop on Saturday, and have played a key role in driving the most popular cryptocurrency beyond $50,000 (approximately Rs. 37.72 crores). However, going against the grain, on-chain monitoring resources claim that this specific whale transaction is one of the largest in recent memory.
The whale, originally seen by BitInfoCharts and reported by CoinTelegraph, has been buying Bitcoin on a regular basis over the past month, but the most recent purchase of 2,700 Bitcoin is one of the largest for the whale. “This is officially the biggest quantity of Bitcoin EVER held in this wallet: BTC 118,017,” according to VentureFounders. “In all, the whale has put $2.5 billion (approximately Rs. 18,863.29 crore) into buying BTC at an average cost base of $21,160 (about Rs. 15.96 lakh) per BTC.”
According to Santiment, an on-chain data source, Bitcoin had rebounded to over $50,100 (around Rs. 37.78 lakh) by Monday “Whale traders were masters of the downturn. Addresses holding 100 to 10k $BTC had acquired 67k more $BTC after dumping the same amount before the price decrease, starting with the dump to $43,000 (approximately Rs. 32.43 lakh).”
Bitcoin is presently priced at $54,024 (approximately Rs. 40.74 lakh) on Indian exchange CoinSwitch Kuber, up 4.9 percent in the last 24 hours, while CoinMarketCap rates the cryptocurrency at $50,856 (about Rs. 38.35 lakh).
An Ethereum whale, one of the largest, just came in to add 28 billion Shiba Inu tokens, valued at over $1.1 million (approximately Rs. 8.81 crores), to a portfolio of over 1.2 trillion tokens. The whale wallet is known as ‘Gimli’ started buying SHIB tokens in June and has since amassed a total of $56 million (roughly Rs. 422.4 crores).
The value of Shiba Inu has decreased by more than 45 percent in the last 30 days, yet whales like ‘Gimli’ have continuously bought the dip to assist the Dogecoin competitor gain widespread acceptance.