Битцоин (BTC) hodlers are asking questions after 10,000 BTC dormant since 2013 suddenly left its wallet.
On-chain data flagged on Aug. 28-29 confirmed a large tranche of Bitcoin had become liquid again after nearly a decade.
“Lawless era” Bitcoin hit the road
Analysts first began to notice curiously high transaction volumes this weekend as 5,000 BTC was included in a block.
Having stayed in the same wallet since 2013, the funds, the owner of which remains unknown, were soon joined by a near identical 5,000 BTC дан касније.
In total, 10,000 BTC moved for the first time since 2013, and on-chain sleuths are curious as to the motive of the whale in charge.
Analysis of the destination wallets has concluded that the funds were not sent to anexchange for sale. Instead, they were split among a large number of new wallets.
Considering the reasoning behind the move, Maartunn, a contributor to on-chain analytics platform CryptoQuant, suggested that privacy may play a part.
Quick investigation of @IT_Tech_PL
1. Bitcoin moved to new address
2. From new address to multiple addresses of small amountsBasically the scenario as @ki_young_ju описано овдеhttps://t.co/FHgIJsv24P
— Маартун (@ЈА_Маартун) Август КСНУМКС, КСНУМКС
Maartunn linked to comments from CryptoQuant CEO Ki Young Ju, who last week argued that those in ownership of “older” coins, especially in large amounts, likely needed to avoid drawing attention to their now greatly-increased wealth. In 2013, BTC/USD traded at a maximum of around $1,165.
For Ki, these coins were “minted in the lawless era.”
“We uncovered that these whales were highly likely: a) early visionaries that accumulated bitcoin via mining and trading, and b) coins coming from the Cryptsy bitcoin exchange just before it was ‘hacked’ (allegedly stolen customer funds),” a CryptoQuant research piece into old fund movements from Aug. 3 додао.
Just six such transactions in Bitcoin history
The transactions were, meanwhile, покупили by the Whale Shadows индикатор by Philip Swift, creator of on-chain analytics resource LookIntoBitcoin.
Clearly showing the two spikes in older coins occurring, the data prompted discussion over their implication for BTC price action.
As Swift and CryptoQuant showed, previous such spikes marked local highs for BTC/USD throughout Bitcoin’s history.
Other social media commentators even предложио that the funds were tied to the rehabilitation process at defunct exchange Mt. Gox.
Како је известио Цоинтелеграпх, fears that compensation of creditors would begin this weekend, sparking a significant sell-off, ultimately appeared unfounded.
Овдје приказана стајалишта и мишљења су искључиво становишта аутора и не одражавају нужно ставове Цоинтелеграпх.цом. Сваки потез улагања и трговања укључује ризик, приликом доношења одлуке требало би да спроведете сопствено истраживање.
Source: https://cointelegraph.com/news/btc-price-top-warnings-emerge-as-10k-btc-leaves-wallet-after-9-years