Late last week, the news of a mysterious Coinbase wallet that received a large amount of Bitcoin rocked the crypto industry. About $3 billion in BTC was in the newly registered wallet, according to the report.
Newly Created Whale Wallet Received 132,877 BTC In 3 Days
According to statistics, a whale wallet address recorded tremendous buying activities as it received 132,877 Bitcoins, estimated at $3B. The colossal deposit occurred through a series of transactions that lasted for three days.
Furthermore, the reports revealed that the wallet was registered on the 15th of June, and the transactions started three days later. On the 9th of July, it received a deposit of 15,499 Bitcoin, estimated at $345.9M.
The second transaction, which occurred on the 20th, was three times bigger than the previous one. It received 45,499 Bitcoin, which was, at the time of writing, about $1.06B.
The third and last transaction, carried out on the 21st of June, was recorded as the biggest. The new non-exchange whale wallet received a deposit of 71,879 Bitcoins with a price of $1.64B at the publication time.
Bitcoin Whale Used Three Whale Wallets For The Transactions
According to a local news source that tracked the transactions, the mysterious whale investor seemed to be rotating his funds around three wallets. Also, the cryptos transferred into the one-week-old whale wallet came from a whale Coinbase wallet and another non-exchange whale wallet which formerly held the record for the wealthiest BTC wallet in the category.
The allegedly richest non-exchange whale wallet initially held about 132,883 Bitcoins at the beginning of this month. However, it transferred most of its assets to the newly created wallet within three days of the transactions.
The remaining balance must have been sent to Coinbase wallet, according to the report. Either way, the newly created wallet now holds the title of the wealthiest Bitcoin whale wallet that is not on an exchange.
Reports have established that there is a bond between the three wallets that were involved in the massive transactions. The reason or motive behind the massive migration from one wallet to another is still uncertain.
Some crypto analysts suggested that the whale investor might seek a haven for his assets. Meanwhile, some speculators also reasoned that he might be looking for a platform with suitable and direct brokerage sales options.