As the on-chain analytics report states, the unknown whales, along with two other wallets that recently resurfaced, deposited 200 BTC, worth about $17.9 million, into the oldest major crypto exchange, Bitstamp, and transferred 351 BTC, worth another $31.5 million, to a new wallet.
The latest emergence of early Bitcoin investors from the period when the enigmatic creator of the cryptocurrency, Satoshi Nakamoto, was still active online is just another in a series of similar awakenings.
However, despite the activity, the price of BTC continues to rise, absorbing all of the offered supply. We also see that not all coins make it to platforms like Bitstamp, and eventually the biggest “slices” are withdrawn to other wallets.
Thus, besides the fact that deposits are taking place on Bitstamp, the bigger picture reveals a more complicated route for Bitcoin from old crypto investors.
How this will end for the cryptocurrency remains an open question, but as the oldest “diamond hands” start to shuffle their holdings, it is definitely something to keep an eye on.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
