14,000 BTC Moved After Years of Dormancy and PEPETO Presale Makes Waves
The post 14,000 BTC Moved After Years of Dormancy and PEPETO Presale Makes Waves appeared on BitcoinEthereumNews.com.
14,000 BTC Moved After Years of Dormancy and PEPETO Presale Makes Waves The cryptocurrency market is witnessing significant movements, with two major developments capturing attention. On February 10, approximately 14,000 dormant Bitcoins (BTC) were transferred after remaining inactive for seven to ten years. Meanwhile, Pepeto (PEPETO), a rising memecoin, continues to attract investors with its presale momentum. 14,000 BTC Moves After Years of Inactivity On-chain data shows that a large batch of Bitcoin, roughly 14,000 BTC, was moved after years of dormancy. The transfer did not involve any known exchanges, reducing the likelihood of an immediate sell-off. Such movements have historically raised speculation about long-term holders cashing out, but previous cases have not always led to price drops. CryptoQuant, a leading on-chain analytics firm, noted that similar past transactions did not always result in significant market downturns. One key factor is the low acquisition cost of these coins, which could influence whether the holders eventually decide to sell. Glassnode data reveals a growing divide between different types of Bitcoin investors. Retail holders, those with 1 BTC or less, have significantly increased their accumulation rate since mid-December, purchasing an average of 10,627 BTC per day. This marks a 72% acceleration compared to last year’s daily average. Conversely, large-scale Bitcoin holders, or whales, those with over 1,000 BTC, have been aggressively selling since November 24. Whales have been sending an average of 32,509 BTC per day to exchanges, a ninefold increase in potential sell-side pressure compared to the yearly average. This divergence suggests that while small investors see Bitcoin as a long-term opportunity, whales are offloading holdings at a rapid pace. PEPETO Presale Gains Strength Amid Memecoin Competition While Bitcoin movements dominate market discussions, the memecoin sector is also experiencing rapid growth. #Pepeto, known as the “God of Frogs,” has been gaining…
Filed under: News - @ February 12, 2025 3:21 pm