Satoshi-Era Wallet Becomes Active After More Than a Decade

According to Whale Alert, the wallet’s unknown owner mined approximately 4,000 BTC between April and June 2009, just months after the Bitcoin network went live. Data from Nansen shows that the whale sent 150 BTC (worth over $16 million) in a single transaction on Thursday.

On-chain data from Mempool indicates the address may have once held as much as 7,850 BTC. The whale was last active in June 2011, when it consolidated all its Bitcoin into a single wallet. With Bitcoin currently trading around $110,604, the whale’s remaining holdings are estimated to be worth over $442 million.

Analysts Spot Growing Activity Among OG Bitcoin Whales

Independent blockchain analyst Emmett Gallic noted that this particular whale once held over 8,000 BTC across multiple addresses and has been gradually selling portions of its holdings for years.

He commented on X (formerly Twitter):

“A whale that once held 8,000 BTC has reactivated a Satoshi-era wallet. After today’s 150 BTC move, it’s now steadily selling down to 3,850 BTC. God-level DCA strategy.”

Blockchain data confirms that the address now holds roughly 3,850 BTC. Such on-chain movements often trigger speculation among investors about whether early holders are preparing to offload more coins into the market.

What Does This Mean for the Bitcoin Market?

In July, another early Bitcoin address holding 80,201 BTC became active for the first time in 14 years, transferring part of its funds to Galaxy Digital.
Crypto analyst Willy Woo observed in June that whales holding over 10,000 BTC have been consistently reducing their exposure since 2017.

However, experts told Cointelegraph in August that old whales cashing out shouldn’t be seen as a bearish signal. Instead, it often means that new institutional buyers are entering the market — a healthy sign of a maturing Bitcoin ecosystem.

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Speaking to Cointelegraph, Newson said that uncovering the truth behind the April crash would require a full forensic study — similar to the one conducted after the collapse of FTX.

OTC Deals Obscure the Full Picture

In an April 15 interview with Coffeezilla, John Mullin, CEO of Mantra, admitted that the team had engaged in up to $30 million worth of OTC deals. These trades, unlike on-chain transactions, are carried out off exchanges and lack public transparency.

“The whale’s accumulation of 100 million OM tokens appears to stem from secondary market activity — not direct action by Mantra insiders,” Newson explained.

Arkham and Nansen Cannot Offer Final Answers

Mullin has denied any insider dumping, arguing that Arkham mislabelled several wallets. But Newson said that even data from Arkham or Nansen would not suffice:

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“To confirm insider coordination, more than basic wallet tracing is needed. Without offchain agreements or exchange records, reaching definitive conclusions is extremely difficult.”

Audit Still Not Confirmed

Mullin said the team is considering hiring a forensic auditor, though no decision has been made yet. Mantra has asked centralized exchanges to collaborate in analyzing the incident.

Frank Weert, co-founder of Whale Alert, also noted the difficulty in obtaining complete transaction histories, even at the node level.

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The post Unpacking Mantra’s OM Token Crash Requires Full Forensic Investigation appeared first on Coin Engineer.

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According to Whale Alert, which tracks cryptocurrency transactions, a large transfer of 1,782,144 SOL, worth approximately $170,364,121, was made from an unknown wallet to Coinbase, one of the leading cryptocurrency exchanges.

1,782,144 #SOL (170,364,121 USD) transferred from unknown wallet to #Coinbasehttps://t.co/qsbyjvNwmN

— Whale Alert (@whale_alert) February 5, 2024

Shortly after, it was reported that 119,597 SOL, worth $11,436,478, was transferred from Coinbase to a new unknown wallet.

119,597 #SOL (11,436,478 USD) transferred from #Coinbase to unknown new wallethttps://t.co/k4ScR62UYh

— Whale Alert (@whale_alert) February 5, 2024

Solana’s trading volume saw significant growth during the same period, increasing by 18.26% to $1,502,291,564.

According to information provided by CoinGlass on cryptocurrency futures and spot markets, Solana experienced $6.13 million in liquidations in the last 24 hours. Of this liquidation, long positions accounted for $4.33 million, while short positions accounted for the remaining $1.79 million. These figures indicate that interest in Solana and market volatility are increasing.

The post Solana Whales Turn Heads with Their Transactions! appeared first on Coin Engineer.

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According to Whale Alert data, 46.34 million XRP were transferred to an unknown wallet on January 30 by Ripple.

XRP Sales on Bitstamp Exchange According to research by AMBCrypto, this transfer is not new, but has been going on for the past few days. First, 27.7 million XRP worth over $14.4 million were sent from an unknown wallet to Bitstamp on January 28. The next day, 27.1 million XRP worth over $14.5 million were again sent from an unknown wallet to Bitstamp. In other words, more than 100 million XRP in total have been transferred to Bitstamp Exchange in the past 3 days, presumably to be sold.

XRP Trading Volume Increases The examination conducted by AMBCrypto shows us everything clearly. The impact of the transfers on the volume is also evident. The altcoin’s volume reached $493 million on January 28th. It then rose above $900 million on January 29th. It rose to $1.2 billion on January 30th.

At the end of trading on January 30th, it traded around $0.51 with a loss of over 4% in value. On top of that, the news of Ripple (XRP) being hacked also came, and it found support in the $0.48 band.

Investors’ Confidence in Ripple (XRP) Intact AMBCrypto also noticed another interesting detail. It also found that the funding rate indicates a decrease in aggression from buyers. The Coinglass graph showed that the Funding Rate had recently declined while remaining positive.

The last time the Funding Rate was this low was on January 3, which coincided with a price drop of over 6%.

 Ripple Analysis

The recent sell-offs of XRP by Ripple and the hack news have shaken the confidence of investors. However, the fact that the funding rate remains positive indicates that there is still some buying interest.

In order for XRP to rise from its current position, it needs to see a reversal in the sell-offs and a return of investor confidence. This could be driven by positive news from the SEC lawsuit or by a broader recovery in the cryptocurrency market.

The post Will Ripple (XRP) Be Able to Get Out of the Dump? appeared first on Coin Engineer.

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Whale Alert, which provides alerts for whale transactions, stated that a total of $147 billion worth of Ripple (XRP) coins were transferred to the Binance and Bitfinex cryptocurrency exchanges.

This transfer was first reported by blockchain monitoring platform X account Whale Alert. It was claimed that an unknown wallet sent 25.6 billion XRP to Bitfinex. This amount is equivalent to almost half of the total supply of XRP.

Bitfinex CEO Paolo Ardoino quickly made a statement on the matter:

“Someone tried to launch a “Partial Payments Attack” (Partial Payments Attack) on Bitfinex.

However, thanks to Bitfinex’s efficient processing of the ‘delivered_amount’ (delivered amount) data field, the attack failed…”

Someone attempted to attack @bitfinex via "Partial Payments Exploit".
Attack failed since Bitfinex properly handles 'delivered_amount' data field.https://t.co/EiGw9UQmmq

(updated with better gif) https://t.co/8I7vlO05ou pic.twitter.com/DxOnJLLkhU

— Paolo Ardoino (@paoloardoino) January 14, 2024

Therefore, the situation is as follows; the attacker tried to send a misleading transaction worth 147 billion dollars of Ripple (XRP) coins to major exchanges such as Binance and Bitfinex, using the “Partial Payments” feature that allows a payment transaction to take less than the amount sent from the sender.

The attack attempt on XRP is a reminder of the risks associated with cryptocurrencies. It is important to be aware of the potential for attacks and to take steps to protect yourself.

The post Billion-Dollar Attack Attempt on XRP! appeared first on Coin Engineer.

In the XRP ecosystem, Ripple has actively been transferring substantial amounts of XRP into secure escrow accounts. Notably, they’ve placed 300,000,000 XRP, so equivalent to approximately $146,927,854, and an additional 500,000,000 XRP, valued at roughly $244,748,526, into escrow.

66,666,659 #XRP (33,065,809 USD) transferred from #Binance to unknown wallethttps://t.co/OwwbvEdBNs

— Whale Alert (@whale_alert) September 2, 2023

XRP’s Legal Battle and Growing Usage: What Lies Ahead?

These developments occur within the ongoing legal dispute between Ripple and the United States Securities and Exchange Commission (SEC). In response to Judge Analisa Torres’ July ruling that XRP is not a security when sold to the general public, Ripple’s legal representatives have recently issued their stance regarding the SEC’s appeal.

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Ripple’s legal team contended that the prerequisites for an interlocutory appeal were not satisfied and urged the court to either dismiss the appeal or impose a stay.

Lately, XRP has experienced significant spikes in its usage, characterized by achieving a seven-month high in on-chain transactions and hitting a three-month peak in circulation. These statistics signify a growing level of involvement and activity within the XRP ecosystem, so potentially spurring increased demand.

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The post XRP Whale Alert: Surge in Transfers Sparks Speculation appeared first on Coin Engineer.