A Bitcoin Whale Gathers a Massive $282,380,000 in BTC Amid Market Correction, Reveals On-Chain Data – The Daily Hodl

A Bitcoin whale has accumulated over $282 million in BTC since late March as the main digital asset struggles to stabilize after reaching record highs.

Initially identified by blockchain monitoring company Lookonchain, an address starting with “12QVsfA” purchased 4,380 BTC valued at $282.38 million with an average price of $64,471.

According to Lookonchain,

“Following the BTC price drop, this whale purchased an additional 620 BTC ($39.8 million) at the lowest point.

Since March 21, this whale has acquired 4,380 BTC ($282.38 million) at $64,471 from Binance.

Address:
12QVsfAFv5RsHuqx4i9WsNGJPeiYLoN2qo.”

Source: Lookonchain/X

On the same day, the company also spotted another whale depositing over $77.67 million worth of Bitcoin into crypto exchange Kraken. While the intentions of the whale remain unknown, depositing the coins on Kraken suggests a potential sale on the open market.

Referring to data from crypto analysis service Arkham, Lookonchain reveals that the entity has accumulated over $1.68 billion worth of Bitcoin in just a month and a half.

“A whale deposited 1,200 BTC ($77.67 million) into Kraken 43 minutes ago.

The whale has gathered 24,755 BTC ($1.68 billion) at an average price of $68,051 from Mar 1 to Apr 15.

Address:
bc1qcpflj68s3ahy4xajez4d8v3vk28pvf7qte2jmlftvxzfke2u6mqsge3gvh”

Source: Arkham/Lookonchain/X

Currently, Bitcoin is trading at $63,315, which is 14% lower than its all-time high of $73,737.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should conduct thorough research before engaging in any high-risk investments involving Bitcoin, cryptocurrency, or digital assets. Please be aware that all transfers and trades are undertaken at your own risk, and any resulting losses are your own responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, and is not an investment advisor. Kindly note that The Daily Hodl participates in affiliate marketing.

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