Crypto whales: Friends or foes?
The closing weeks of 2024 saw vintage crypto wallets waking and moving tens and hundreds of tokens to exchanges or other addresses. Public curiosity is by far not the only impact of such transactions. Let’s see how the whale transactions influence the market and why not everyone is happy about them.
The whales’ transactions Christmas rampage
On Dec. 25, 2024, the Bitcoin wallet that was kept untouched for nearly 14 years moved 20.55 BTC to another address. During the years in the wallet, these coins gained over $2 million in value. The same day, a different wallet released 210 BTC after ten years of inactivity. This BTC stash grew by $20 million while being hodled.
Two days later, someone moved 1,940 ETH…
