A group of Bitcoin whale accounts, which have been inactive since December 2018, suddenly woke up and bought thousands of Bitcoins over the weekend.
According to BitInfoCharts, a website that lists Bitcoin addresses managed by cryptocurrency trading, Whale addresses are numbered between 89 and 106, with the exception of the number 90.
They bought 28,377 Bitcoins worth $ 841.85 million (approximately Rs. 62,789 crores) on July 17 and July 18 in a coordinated manner.
However, not all of the 17 Bitcoin addresses mentioned are unknown.
According to a report in The Daily Hodl, all 17 of these wallets hold 8,000 Bitcoins before a large collection over the weekend.
The report also said that the similarity of the purchase and the fact that each wallet remains inactive at the same time suggests that addresses are one business – although this is uncertain.
Data published on BitInfoCharts also showed that four wallets received Bitcoin access at the same time on July 18.
Bitcoin Whale Wallets Dormant
Four other wallets collected Bitcoins simultaneously on July 17, and three other wallets added Bitcoins simultaneously the following day.
Bitcoin wallet is an account that holds a large amount of digital currency and has the ability to change the price in a single trade.
Back in 2017, about 1,000 people owned about 40 percent of all Bitcoin and, due to the recent fluctuations in the cryptocurrency market, whales have returned and are sometimes overlooked.
Bitcoin lost about half of its all-time high value, reached in May this year, by about $ 65,000 (about Rs. 48 lakh). At the time of writing, it was trading for $ 30,816 (approximately Rs. 23 lakhs).
It has been a lost practice over the weekend when whale transactions took place.
On July 20, according to a Reuters report, Bitcoin dropped below $ 30,000 (approximately Rs, 22.36 lakhs) for the first time in a month since June 22, when it touched a low of $ 29,300 (Rs. 21.84 lakh).