In the final weeks of 2024, old crypto wallets woke up and transferred dozens and hundreds of tokens to exchanges or other addresses. Public curiosity is far from the only impact of such transactions. Let’s look at what influence whale transactions have on the market and why not everyone is happy with it.
The Christmas rush of the whales
On December 25, 2024, the Bitcoin wallet, which had remained untouched for almost 14 years, moved 20.55 BTC to another address. Over the years in your wallet, these coins have gained over $2 million in value. On the same day, another wallet released 210 BTC after ten years of inactivity. This BTC supply grew by $20 million during the administration.
Two days later, someone transferred 1,940 ETH from the pre-mine address to Coinbase. These Ether tokens have been inactive since the launch of the Ethereum network. In the following days there were further major transactions with long-term sleepers.
For example, on December 29th, it was reported that someone sent 7,000 BTC from the address that had been inactive for seven years to several different addresses, splitting the sum into seven issues of 1,000 BTC.
Reporters share the opinion that these Bitcoins were not sold; They simply switched to other wallets. In seven years, the value of the 7,000 BTC supply grew by several hundred million dollars. On the same day, the address, which has been silent since 2014, sent 357.4 BTC to other addresses.
