Cryptocurrency world, “Mr. It is awash with speculation about a mysterious figure known as “The 100”. This huge Bitcoin wallet has a huge holding. The assets in the wallet are over 52,996 Bitcoins, which translates to a staggering $3.5 billion. Mr. 100’s recent buying spree, which culminated in a massive purchase of 1,000 BTC on March 15, has analysts scrambling to uncover the asset’s true identity.
Bitcoin whale unmasked
cryptokoin.com As we reported, Mr. The mystery surrounding 100 began in November 2022, following the dramatic decline of FTX, a major cryptocurrency exchange. Since then Mr. 100 has embarked on a non-stop accumulation spree, adding at least 100 BTC to its holdings every day since mid-February 2023. This methodical approach points to a well-defined strategy, further strengthened by the presence of a secondary wallet. It has exhibited a similar pattern since 2019. This statement, Mr. It shows that 100 is a seasoned player who has been actively involved in the crypto market long before the current rise.
Mr. Theories about the identity of the 100 have gone wild. Speculations range from a Hong Kong financial institution to sovereign wealth funds in the Middle East to even a tech giant’s secret foray into the cryptocurrency space. But a recent study by blockchain research platform Arkham Intelligence has shed important light on this conundrum.
Arkham Intelligence: Wallet belongs to Upbit
Arkham Intelligence’s analysis, Mr. It suggests that 100’s wallet may not be a single entity, but instead a cold wallet belonging to Upbit, South Korea’s leading cryptocurrency exchange. This conclusion comes from a meticulous examination of the wallet’s transaction patterns and connections with other Upbit addresses, which characteristically reflect the characteristics of a typical exchange cold wallet. Arkham Intelligence analysts said:
Our research Mr. It turns out that 100 is actually an Upbit cold wallet. This result is based on strong and consistent connections with other Upbit wallets, which fits perfectly with the standard operating procedures of an exchange cold wallet. The consistent 100 BTC inflow is likely due to Upbit deposit wallets being dragged to this particular address. Additionally, some Outputs appear to be directed to Upbit hot wallets, which are used to facilitate customer withdrawals.
Arkham Intelligence’s statement, Mr. It significantly changes the narrative around the 100. Rather than representing a singular, strategic market player, it represents the wallet of a major cryptocurrency exchange.
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