A Smart Whale Transferred 11K BTC

On-chain data analytics platform Lookonchain reported that a “Bitcoin whale” transferred 11,000 BTC to a Bitfinex wallet when the price was $30,114. According to the data, it seems that the investor bought 46 thousand 542 BTC (about $ 935 million) from Bitfinex at an average price of $ 20 thousand 83, and this amount was accumulated between June 2022 and January 2023.

“A smart whale transferred 11K $BTC ($330M) to #Bitfinex 1 hr ago.

The whale received 46,542 $BTC ($935M ) from #Bitfinex at an average price of $20,083.

Then transferred 36.5K ($1B) to #Bitfinex at a price of $28,039.

Currently holds 10,042 $BTC ($304M ), the profit is $390M.”

Then, it is seen that the wallet transferred about 1 billion dollars of BTC to Bitfinex at a price of 28 thousand 32 dollars in mid-March. Describing the investor as a “smart whale”, Lookonchain stated that the wallet currently holds 10,42 BTC with a profit of $390 million. Whale held $1.2 billion in BTC until mid-March, making it the 14th largest Bitcoin owner, according to BitInfoCharts.

Bitcoin whale is a term given to individuals or entities, usually defined as large-scale individuals, companies or organizations, that influence or control the market by investing large amounts in Bitcoin. Bitcoin whales can have a strong influence on prices as they own a large portion of the total supply on the Bitcoin network. “Smart whale” or “smart whale” is a name given to wallets that hold and trade large amounts of assets in the cryptocurrency markets, but are considered not to resort to market manipulation or other illegal activities, unlike the large investors called traditional whales.

Bitcoin whales, who usually have large Bitcoin wallets, can buy or sell large amounts of Bitcoin in a single transaction. Such large transactions can affect market demand and supply and cause large fluctuations in the price of Bitcoin.