A week of gains in crypto: whales are awake

Stay Tuned with MEXC Global

The market for cryptocurrencies is having a great week. The abundance of green is filled with so much promise! After four years of idleness, a bitcoin whale transferred 15,000 BTC from wallet 1KUr81 to 1LGAVQ. At the time of writing, it was worth $252.5 million. Many whales are active again as the BTC halving event draws near.

Whales are Awake, Crypto Has A Good Week, Image by vectorpouch on Freepik

Today, LookOnChain tweeted about the enormous movement of Bitcoin. According to their research, a whale transferred BTC worth 15,000 from one wallet to another. Additionally, the wallet had lain dormant for three and a half years prior to the transaction. 11,056 BTC were also present in the receiver wallet prior to the transaction.

Wallet 1LGAVQ currently contains 26,056 BTC. According to recent estimates, it is worth $439.2 million. According to on-chain information, the whale bought all of the Bitcoin in 2019 and held it until today's transfer. But the owner's name remains a mystery.

Cardano (ADA) Whales Holders Have Also Awakened
Cardano is finally ready to launch in 2023. Over the past day, ADA's price increased by 0.83% to $0.268. Additionally, their weekly performance saw an improvement of 12%. Cardano whales holding one to one hundred million ADA tokens are apparently back in action, according to Santiment, an on-chain data source.

The key factor behind this week's spike in Cardano prices could be how the whale is operating. Additionally, 217.2 million ADA will start to be restored in 2023. In the first quarter of 2023, the new stablecoin USDA might be adopted on the Cardano network.