Bitcoin and altcoin markets have been focused on the Bitcoin halving event for the last week. While it remains unclear what shape the market will take in this process, whales have made various changes in their baskets. Some of these have caught the radar of on-chain observers. An observer spotted a giant whale filling its basket with 5 altcoins in the last 5 days.
Balina attracted attention with these 5 altcoin purchases!
cryptokoin.comAs you follow from , the market has left Bitcoin halving behind on its agenda. It remains unclear what course Bitcoin and altcoins will follow after this important development. That’s why investors smell the atmosphere in the market before taking a position. At the same time, investors are closely following the moves of big investors to give them an idea. On-chain observer The Data Nerd points out a whale’s buying moves over the last 5 days.
Accordingly, a giant whale labeled 0x84d has made significant loads to its cart in the last 5 days. Meanwhile, the whale made his purchases during a market crash. Among the whale’s altcoin purchases, ETHFI and DOGE, which exceed a million dollars, attract attention. This whale also threw a large amount of PIXEL and PEOPLE into his basket. In this context, The Data Nerd shared the following data:
Over the last 5 days, a whale named 0x84d spent $5 million accumulating altcoins:
- 315 thousand ETHFI: Approximately 1.13 million dollars.
- 7.1 million DOGE: Approximately $1.04 million.
- 2.25 million PIXELs: Approximately $950 thousand.
- 1.07 million ENA: Approximately 919 thousand dollars.
- 19.8 million PEOPLE: About $471,000.
- 548 thousand ALT: Approximately 230 thousand dollars.
Bitcoin halving is complete, what’s next?
Bitcoin completed its fourth halving as it reached the 840,000th block. Before the halving, miners received 6.25 Bitcoins for each block, but this number dropped to 3,125. Each halving of Bitcoin reduces mining rewards, thus controlling the supply. Thus, it creates a famine. Expectations are that this scarcity will increase the BTC price.
This mechanism also curbs inflation. Since the birth of Bitcoin, mining rewards have been halved four times. Each halving increased Bitcoin’s market value. The next halving is expected to occur in February 2028. This time depends on the actual mining speed of the block. Additionally, the mining algorithm targets a block time of 10 minutes. Halvings are periods when demand remains constant while supply decreases, causing the price to rise.
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