A dormant Bitcoin wallet from 2013 moves just 5,000 BTC to Kraken, causing investors to panic

– Advertisement –

A wallet moves bitcoin after nine years.

Blockchain data has shown the transfer of a large amount of Bitcoin (BTC) to an address on the Kraken cryptocurrency exchange.

According to the Ok Link cryptanalysis platforma total of 5,000 BTC were transferred from an old Bitcoin address to Kraken.

The 5,000 BTC were transferred from a Bitcoin address created back in 2013, when the world’s largest cryptocurrency wasn’t as valuable as it is today.

At the time of the transaction, the 5,000 BTC were worth around $100 million. Popular crypto media outlet Wu Blockchain also shared the development on Twitter.

“Bitcoin Whale address (18xGHNrU26w6HSCEL8DD5o1whfiDaYgp6i) transferred 5000.01 BTC to the Kraken on September 5 at 04:50:38 (UTC+8), which is now worth around $100 million. The wallet was created and bitcoins were transferred to this address in 2013.”

It is expected that the fund’s owner could likely sell a large chunk of it, which could lower the price of the top asset class. The transaction has continued to spark panic in the crypto community, as many fear such a transfer could further devastate BTC’s value.

cool more dump start soon!

— Mohammed Nahid ₿ (@M_nahid92) September 5, 2022

However, Bitcoin is still changing hands at around $19,872up 0.3% in the last 24 hours.

– Advertisement –

Disclaimer

The content is for informational purposes only and may contain the personal opinion of the author and does not necessarily reflect the opinion of TheCryptoBasic. All financial investments, including crypto, involve significant risk, so always do full research before investing. Never invest money you cannot afford to lose; The author or publication assumes no responsibility for your financial loss or gain.

Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers