Although the cryptocurrency market has seen sharp declines, it continues to attract the attention of investors. A new Bitcoin (BTC) whale has been born into the crypto world these days. The whale acted pretty quickly and collected $3 billion worth of BTC in 3 days.
The new Bitcoin whale got to work fast!
A new Bitcoin whale has taken the crypto market by storm, accumulating a massive $3 billion BTC fortune in 3 days. The unidentified whale first appeared on July 15, 2022. In general, he stayed on the sidelines for three days. However, the mystery wallet took its first lot on July 19 with 15,499 BTC worth $345.9 million. Whale accelerated purchases by adding another purse of 45,499 Bitcoins worth $1.06 billion to his wallet on July 20. On July 21, the whale added another 71,879 BTC worth $1.64 billion, according to BitInfoCharts data.
Source: BitinfochartsCurrently, there are more than 132,877 Bitcoins worth $3 billion in the mysterious whale wallet. The identity of the whale is unknown. Also, it has yet to be determined whether the whale is an entity or an individual. Whale bought a fortune in Bitcoin in just three days. The massive wallet could see a splurge in numbers during the bull run.
Source: BitinfochartsBTC whales and leading crypto price performance
As you follow on Kriptokoin.com, cash-strapped investors stay away from the markets. However, whales with surplus cash come in. A month ago, a Bitcoin whale bought 1,427 BTC in June 2020 alone, during the price drop last month. The whale purchases are listed as follows: 300 BTC on June 7, 425 BTC on June 13, 488 BTC on June 14, and 214 BTC on June 15.
At the end of June, another Bitcoin whale spent around $2 billion after receiving 1,418 BTC. The whale in question has $2.56 billion worth of Bitcoin purchased during the dips. However, the whale sold 500 BTC on June 14, which currently stands at 927 Bitcoin. The buying frenzy comes as Bitcoin tries to surpass $23,000.
On the other hand, institutional and individual investors mostly stay away from the markets for fear of further declines. Meanwhile, at press time, Bitcoin was trading at $22,079, according to data from CoinMarketCap. BTC is down 3.38% in the 24-hour trade. BTC also fell 68% from its all-time high of $69,044, which it reached in November last year.
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