Bitcoin Surpasses $65,000 After US Move, Whales Get Active! Here Are Their Altcoin Transactions

As talks between the US and Iran begin in Switzerland, significant steps are being taken by both countries as part of the negotiations.

Accordingly, Iran committed to ensuring unimpeded freedom of navigation through the Strait of Hormuz and granting International Atomic Energy Agency (IAEA) inspectors full access to its nuclear facilities. The US, meanwhile, issued a general license allowing trade in Iranian crude oil and petrochemical products until August 21.

This situation pushed Bitcoin above $65,000, and whales became active.

According to the analytics platform Lookonchain, the whale account “bc1qhx,” which bought 2,500 BTC (worth $202 million) at $80,936 a month ago, deposited its remaining 2,480 BTC (worth $161 million) into Binance. This transaction resulted in a loss of over $39 million for the whale.

According to the analytics platform EmberCN, an early SHIB whale who bought 103 trillion SHIB for 37.8 ETH (approximately $13,700 at the time) in 2020 has begun selling off some of his holdings.

At this point, over the past month, the investor sold approximately 3.8 trillion SHIB for about $20.73 million. The investor, who once held 17.4% of the total SHIB supply, had assets valued at approximately $9.1 billion in 2021.

However, while the investor who didn’t sell at the time saw their profits diminish over the years, the whale made small sales. Despite these sales, the whale still owns approximately 96.27 trillion SHIB, representing about 16.3% of the total supply. Currently, this amount is worth approximately $457 million.

According to Onchain Lens, a new wallet withdrew approximately 2,500 BTC, worth about $163 million, from Binance. Withdrawals from exchanges are generally interpreted as a sign of holding onto the funds.

Lastly, Bitmine (BNMR), the company headed by Tom Lee, known as a big bull in the market, announced that it purchased 52,203 Ethereum last week, bringing its total ETH holdings to 5,672,956 ETH.

The company’s average purchase price is approximately $1,751, while the current value of total ETH assets is estimated at approximately $10.007 billion.

The company’s overall average purchase price is $3,407, and unrealized losses amount to approximately $9.32 billion, representing a loss margin of 48.2%.

Bitmine Chairman Tom Lee stated that the company plans to continue its strategy of steadily accumulating ETH until 2026, adding that its current holdings represent approximately 4.7% of Ethereum’s total supply.

*This is not investment advice.

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