Blockchain parser tracks movement of 489 BTC worth $17M

Despite the market’s volatility, a whale holder from 2010 decided to move a considerable amount of Bitcoin (BTC/USD). A whale is any entity with a large amount of a particular crypto, BTC in this case.

Blockchain parser Btcparser.com spotted a very large transfer on March 10. Around 489.1 Bitcoin, equivalent to nearly $17 million, was moved from the Bitcoin address “17QBW.” The transaction was executed early in the morning at block height 726,641.  

Holder waited over a decade to transfer the funds

The originating address handled 5,111 BTC in total. 1,000 BTC was transferred from this address between September 6, 2010, and July 12, 2011.

The whale waited over ten years to transfer the 429 BTC, which was spent on March 10, 2022. They received it at the same time as the other 510.91 BTC initially. The 429 BTC was spent two days after the transfer in 2010.

At the time of publication, the total crypto market cap was $1.746 trillion.

Ethereum whales with second biggest stake in market

Thanks to Shiba Inu (SHIB/USD), Ethereum whales (ETH/USD) hold the second biggest stake in crypto. Although it is considered a meme coin, Shiba Inu is consistently trending in the market. Its user base numbered more than a million at the end of last year.

In the last few years, Shiba Inu has gained over 200,000 new members. At the time of publication, just under 1.2 million people owned Shiba Inu.

Data from IntoTheBlock show the number of Shiba Inu transactions worth over $100,000 keeps breaking records. At the beginning of February, the corresponding revenue was just under $390 million, accounting for over four-fifths of the entire volume on the blockchain.

The crucial role of whale investors

Shiba Inu could not have been so successful without the assistance of whales. Shiba Inu passed FTT, the FTX exchange’s native token, by market cap, becoming the biggest cryptocurrency holding. At the moment, Shiba is the second-biggest holding of Ethereum whales.

Since the transfer of the dormant BTC in 2010, there hasn’t been a massive “rousing” of the crypto – for now.

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