A crypto whale with a recent track record of raking in big profits from Bitcoin just accumulated tens of millions of dollars worth of BTC, according to on-chain data.
Crypto tracker Lookonchain says between August 24th and September 2nd, the unknown whale accumulated 6,000 BTC worth $158.66 million at an average price of $26,444 per Bitcoin.
The whale subsequently deposited 3,000 BTC worth $105.7 million to Binance at a price of $35,241 per Bitcoin, making a total profit of $26.4 million.
Lookonchain notes that the same whale accumulated 1,750 BTC worth $76.9 million from Binance from January 6th to 8th at an average price of $43,953 per Bitcoin.
The whale also accumulated an additional 250 BTC on Monday at an average price of $46,970 per Bitcoin. It currently holds a total of 5,000 BTC worth more than $233.5 million, according to BitInfoCharts.
BTC is trading at $46,957 at time of writing. The top-ranked crypto asset by market cap is up over 7% in the past 24 hours.
Prior to Monday’s gains, Bitcoin’s price dropped by more than $1,000 over a seven-hour period on Sunday. Lookonchain notes that the Bitcoin mining pool F2Pool deposited 1,000 BTC worth $43.96 million to Binance during that period.
The mining pool also deposited 1,000 BTC worth $43.76 million to Binance on Friday, according to the crypto tracker.
Generated Image: DALLE3
More Stories
Lotte subsidiary partners with Aptos to build Web3 hub
Best Crypto to Buy Today March 5 – Starknet, Theta Network, Optimism
Here’s When Solana (SOL) Might Rally, Ethereum (ETH) Surges Again, Cardano (ADA) Volume Heralds New Heights