Blockchain data from Lookonchain shows a dormant whale transferred 3,500 BTC worth $409 million to a new wallet, capitalizing on a 294% gain since acquiring them from Gemini in 2021.
According to blockchain analytics platform Lookonchain, a Bitcoin whale who had been inactive for three years transferred 3,500 BTC, now valued at about $409 million, to a new wallet. The whale originally withdrew the same amount from Gemini when Bitcoin traded at $29,620, worth $104 million at that time. Since then, the holding has appreciated by $305 million, representing a 294% increase in value.