Unnamed BTC Whale Purchases over $71.7M worth of Bitcoin in 7 Days

The third-biggest BTC Whale has maintained a feasting spree as it executes more massive Bitcoin purchases. The whale, reported to be the largest non-exchange entity, bought 1800 Bitcoin units within the last week.

With the coin price of BTC (as at the time of this report) at $39,854, the said whale’s digital wallet has acquired an extra $71,737,200 in Bitcoin. The entire assets in the whale’s wallet now stand at 125,552 BTC, worth approximately $5 billion.

The unnamed whale’s e-wallet has seen massive acquisitions throughout April. Analysts say that the wallet has displayed a constant trend of purchasing hundreds of BTC, after which it sends 1,500 BTC to digital wallets connected to the American-based Coinbase. Reports also say that the whale’s activities have been very high throughout 2022.

Whale Volatility in Recent Times

The past few weeks have seen the BTC Whale buy thousands of coins after multiple significant outflows. Additionally, reports say that the whale’s activities have been volatile, similar to the trajectory of Bitcoin’s price. The volatility shows massive flows as well as purchases in April.

During the last ten days in March, the whale’s address reportedly sold 3,000 BTC. Moreover, the whale sold 4,500 Bitcoin in the first few days of April, taking the sum of outflows to about $335 million in less than 21 days.

However, the same whale’s address started a buying spree by acquiring 3,241 Bitcoin, worth about $145 million in the first week. The massive purchases close the gap behind the e-wallets owned by Bitfinex and Binance. Bitfinex and Binance are the two leading crypto exchanges worldwide by market capitalization.

Referring to the massive purchases of the whale, a cryptocurrency analyst at Glassnode said that the first month in Q2 has often seen large Bitcoin purchases worldwide. Therefore, the initial massive outflows in the market were not a surprise. Also, the analyst says history suggests that most whales and holders with less than one BTC often lead the trend.

Yuga Labs Stops Auction

Yuga Labs has reportedly stopped auctioning their Otherdeed NFTs as it announces it will sell them for 305 ApeCoins (APE). Yuga Labs formerly planned to execute an auction to sell land in the Otherside metaverse.

However, the firm has reportedly withdrawn its earlier plan because it failed to meet consumers’ requests for the ongoing gas conflicts in Europe. The auction’s plan had been Dutch-style, in which the auctioning owner receives different bids on the product before announcing the top bidder’s say for the item’s price.

Announcing the development via its Twitter page, the Otherside said that many tokens left to mint could reasonably increase gas prices. It bases such a statement on the fact that its NFT is one of the most prominent and has a high demand.

Yuga Labs also announced that it would place an upper bar on the amount of NFTs that a wallet could hold (two) at the beginning of the sale.