A long-dormant Bitcoin whale has transferred another 500 BTC, worth approximately $33.28 million, to the Binance exchange, continuing a steady divestment of assets acquired over a decade ago. According to on-chain analysis from Arkham Intelligence and blockchain analysts EmberCN, the investor first purchased 5,000 BTC in November 2013 at an average price of $332 per coin.
The latest transaction is part of a larger pattern of selling that began in late 2024. Since November 2024, the whale has transferred a total of 4,000 BTC to Binance, with an estimated total value of $365 million and an average selling price of $91,258. This represents a realized profit of approximately $363 million from these sales alone.
The address in question still holds 1,000 BTC, valued at roughly $66.62 million at current prices. Market experts note that such large-scale transfers from early holders can create selling pressure on the market, reflecting a tendency among long-term investors to take profits after years of inactivity.
This activity aligns with a broader trend of dormant wallets reactivating. Similar patterns have been observed recently, including an Ethereum ICO-era wallet offloading tens of millions of dollars worth of ETH and another Bitcoin address moving over 2,000 BTC after more than a decade of inactivity. Bitcoin has declined over 5% in the past week to below $66,500, while Ethereum has fallen over 7% to below $2,000, with some attributing part of this pressure to such whale movements.
