After the price of Bitcoin hit a vital support level of $50,000, the third-largest Bitcoin holder on record added a whooping BTC 2,700 to their wallet, worth $137 million. Bitcoin whale accounts have been aggressively selling over the last week, especially following the massive drop on Saturday, and have played a key role in bringing the most popular cryptocurrency above $50,000. However, going against the grain, on-chain monitoring resources claim that this specific whale transaction is one of the largest in recent memory.
The whale, originally seen by BitInfoCharts and reported by CoinTelegraph, has been buying Bitcoin on a regular basis over the past month, but the most recent purchase of 2,700 Bitcoin is one of the largest for the whale. "This is officially the biggest quantity of Bitcoin EVER owned in this wallet: BTC 118,017," according to VentureFounders. "In all, the whale has spent $2.5 billion into buying BTC with an average cost base of $21,160 per BTC."
According to Santiment, an on-chain data source, Bitcoin had rebounded to roughly $50,100 by Monday "Whale traders were masters of the downturn. Addresses holding 100 to 10k $BTC had amassed 67k more $BTC after dumping the same amount before the price decrease, starting with the dump to $43,000." Bitcoin is presently priced at $54,024 on the CoinSwitch Kuber, up 4.9 percent in the last 24 hours, while CoinMarketCap rates the cryptocurrency at $50,856.
An Ethereum whale, one of the largest, has rushed in to add 28 billion Shiba Inu tokens, valued at over $1.1 million, to a portfolio of over 1.2 trillion tokens. The whale wallet known as 'Gimli' started buying SHIB tokens in June and has since amassed a total of $56 million. The value of Shiba Inu has decreased by more than 45 percent in the last 30 days, yet whales like 'Gimli' have continuously bought the dip to assist the Dogecoin competitor gain widespread acceptance.