Bitcoin prices have fallen below the K 60K zone, with many people talking about the third largest bitcoin address called “1P5ZED” which has accumulated thousands of bitcoins over the past few days. No one knows who owns the wallet, but it contains more than 111,359 bitcoins as it has been continuously collecting bitcoins since the first transaction of the wallet on February 5, 2019. While some assume the address is a mega bitcoin whale, onchain data also indicate that the wallet may be tied to an exchange.
Countless stories tied to the third largest bitcoin wallet
The fiat value of Bitcoin has fluctuated and this is one of the times where everyone is looking for answers as to why BTC prices have fallen. For example, on November 10, Bitcoin (BTC) dropped to an all-time high of $ 69K (ATH) and five days later it peaked between $ 65K to $ 66K per unit range. Since the cryptocurrency ATH, the value of Bitcoin has fallen 16% and dropped below the $ 60K zone. Of course, instability is sparking Whale Observer And People are talking What’s happening in real-time is about bitcoin whale transactions.
– Crypto Bros. (RyCryptoBroUK) November 13, 2021
Bitcoin whale is a person or organization that has a lot of BTC and whales can be of different sizes. Depending on who you are asking, BTC whales can be individuals or organizations that own 1,000, 10,000, 50,000 and 100,000+ bitcoins. An entity that holds 100,000 BTC will be considered a “mega-whale” and only three bitcoin addresses exist, including 100,000 BTC or more. The top five largest BTC wallets range from 84K to 288K BTC, and three of these wallets are marked or tagged as exchanges.
Recently, Crypto Publishing And a Several people on social media And the forum, has been Guess About the action of the third largest bitcoin wallet. Talked Running And a lot of people Faith That’s a big whale “bought the dip,” when the price of BTC dropped. Bitcoin.com has seen a few news See the big whale E.g. In Nine days ago, BTC reached a new price high. The whales that our news team discovered, however, stemmed from the Bitcoin Block Prize, which was dug up a decade ago.
Onchain data and cluster costs show the third richest bitcoin address belongs to a crypto exchange
The third largest Bitcoin (BTC) address was first created on February 5, 2019, when it received a small fraction of BTC. Seven days later, onchain data shows that the wallet received 1,119 BTC as of February 12, 2019. Wallet address “1P5ZED” does not look like a separate bitcoin holder and 1P5ZED processed transactions look like exchange activity from a crypto trading platform. As mentioned above, three of the top five BTC addresses are flagged as associated with Cold Wallet belonging to Binance, Bitfinex and Okex.
1P5ZED has all the conversational signs associated with the exchange and is not known for sure, but it has been flagged on a few occasions. The address has received a lot of BTC in the last two years and occasionally it also costs BTC. Of 1P5ZED Transactions According to Blockchair.com, there is very little privacy, as the Block Explorer Privacy Tool indicates that most of its transactions are done with very low priority for privacy. 1P5ZED has a “significant” to “low” privacy rating, depending on the level of traceability of most transactions. Transactions suffer from vulnerabilities such as combined addresses and inputs and outputs that are often the same.
# Bitcoin Its third-largest non-exchange whale address (1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ) bought a total of 3038 BTC in a four-day batch since the 16th, with an average price of about $ 59744.22.
– CoinCarp (@coincarpcom) November 19, 2021
Block Explorer note further advice 1P5ZED belongs to an exchange
On Block Explorer oxt.me, Contains notes related to the address 1P5ZED which explains that the address can be linked to an exchange. The first note on oxt.me about 1P5ZED states that it was submitted by a person named “TEJAS” on November 22, 2020. The person wrote “It could be Bittrex” and also left a link in the note The Article mentioned A 717 BTC transfer allegedly performed between Bittrex and 1P5ZED.
The second annotation on Block Explorer oxt.me was added on July 14, 2020 by “ERGOBTC”. The note states, “The source of the address suggests Gemini or Coinbase.” This led to our investigation into parsing 1P5ZED’s transactions over the past two months and showed that 1P5ZED BTC Wallet does quite a few transactions with the address. পরিচিত Known as “1FzWLk” Although 1FzWLk has a lot to do with 1P5ZED, 1FzWLk also Flagged with a note About the address at oxt.me.
The 1FzWLk note was also submitted by ERGOBTC, the second note was applied to 1P5ZED on the same day. “[1FzWLk] Whale annotated as Okex by caution. Although source and cluster costs suggest a closer relationship with Coinbase and Gemini. “While it is not certain that 1P5ZED (which works like an exchange cold wallet) and 1FzWLk (which works like a hot wallet) are part of a trading platform, there are many more. There is supporting evidence that 1P5ZED is probably owned by an exchange.
Do you think 1P5ZED is a random whale address or do you think it belongs to an exchange? Let us know what you think about this topic in the comments section below.
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