A big Bitcoin ($BTC) whale has recently resurfaced following years of inactivity. In this respect, the Bitcoin whale has deposited a staggering $23.4M amount into Binance. As per the data from Arkham Intelligence, this move takes place after the whale’s inactivity for 2 years. Originally, this whale extracted the same amount of funds from Bitfinex up to 3 years ago.

A whale deposited 300 $BTC($23.4M) into #Binance after being inactive for 2 years.

These 300 $BTC were withdrawn from #Bitfinex 3 years ago when the price of $BTC was $19,329, and the whale is now sitting on a profit of $17.6M.https://t.co/up2JTwZI4khttps://t.co/Ws7Md5ztc7… pic.twitter.com/8zr7zWNKLb

Based on the on-chain statistics, the Bitcoin ($BTC) has reentered the market with a stunning deposit of 300 $BTC, equaling a total of $23.4M, into Binance. Particularly, the whale has made this deposit following an extended 2-year period of inactivity. The development takes place following the whale’s original withdrawal of the same amount 3 years ago from Bitfinex.

At that time, the flagship crypto asset was changing hands at just $19,329. While $BTC is now trading at a much higher price level, the whale reportedly accounts for a notable $17.6M profit. As the transaction history of the whale points out, it obtained 50 $BTC, equaling nearly $2.2M, from another crypto wallet.

The respective wallet had itself sourced those funds from the hot wallet of Bitfinex a year earlier. Along with that, another crucial transfer took place when a $4.4M amount in the form of $BTC was transacted to the whale’s address. Moreover, the latest 300 $BTC deposit reaffirms the pattern of massive transactions.

According to Arkham Intelligence, the exclusive whale activity highlights a huge profit-taking move. At the same time, such big transfers could influence the wider market sentiment. Therefore, the investors and traders are keenly watching for the potential outcomes of this activity.

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