$755 Million in 24 Hours for Bitcoin (BTC): What's Happening?

U.Today - The unidentified Bitcoin (BTC) whale has become unexpectedly active in the last 24 hours, increasing the cryptocurrency accumulation in its wallet and bringing its share to 12,131 BTC.

According to data from Arkham Intelligence, the address "bc1qmpn" originally appeared on on-chain radar two weeks ago, when it landed 16.87 BTC, equivalent to $1.01 million.

The funds came from another unknown address under the name "bc1qcacv." Then, eight days later, the new whale received another 176.616 BTC, worth another $10.63 million, and its activity stopped for a while.

However, in the last 24 hours, an unknown large player began to aggressively absorb Bitcoin again, and from the same address where they initially received it. As a result, the total share of their holdings of the main cryptocurrency came to a mark equivalent to colossal $770.49 million.

Important detailsInterestingly, the address from which the unknown whale received the funds also contains a significant amount of Bitcoin, namely 11,477 BTC, which is equivalent to $728.92 million.

It is known that the first address that sent funds to "bc1qmpn" received its first BTC from a wallet that could presumably belong to Fortress Trust, a crypto custodian and trustee.

However, whether this colossal amount of Bitcoin, which could be worth over a billion and a half dollars cumulatively, belongs to this company cannot be said for sure. It is possible that the funds belong to one of the trustee's clients.

Source: Investing.com