An early bitcoin holder (BTC) has moved another 500 BTC, worth about $33 million at the time of the transaction, to Binance, continuing what seems like a steady unwind of coins accumulated more than a decade ago.
Last week, the same address sent 5,000 BTC to exchanges, as The Block reported. Trackers show the unknown holder has been gradually distributing holdings into exchange liquidity over recent months.
Onchain data tracked by Arkham Intelligence — which first acquired 5,000 BTC in November 2013, according to blockchain analysts EmberCN — has now transferred around 4,000 BTC to Binance since late 2024.
The wallet now holds about 1,000 BTC, valued near $66 million at current prices.
While it’s unconfirmed that the deposits were intended for sales, the deposit patterns usually point to a holder offloading assets via crypto exchanges.
Such movements have also become more frequent recently. Long-dormant bitcoin wallets have reactivated, often moving coins to exchanges as early holders lock in gains after years of inactivity.
Similar patterns have surfaced across the market, including a recent case of an Ethereum ICO-era wallet offloading tens of millions of dollars’ worth of ether (ETH), as well as another bitcoin address that moved more than 2,000 BTC after being untouched for over a decade.
If indeed intended for liquidations, the deposit likely adds to the ongoing sell pressure mounting on bitcoin and ether. Bitcoin has slipped below $66,500, down more than 5% over the past week, while ether has fallen below $2,000, losing over 7% in the same period, according to The Block’s price page.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
