ETH breaks through the $2600 mark

OKX-ETH/USDT is currently trading at $2499.39, with a 5-minute drop of 0.18%. Please be aware of market fluctuations.

According to BlockBeats, on July 5th, according to Lookonchain monitoring, a whale address transferred 1550 BTC worth approximately $167 million to Binance in multiple transactions last night, possibly due to the panic caused by the awakening of the "80000 BTC whale that has been dormant for 14 years".

According to Foresight News, Glassnode tweeted that the total unrealized profit of BTC is currently about $1.2 trillion, which not only highlights the significant value appreciation experienced by Bitcoin investors, but also indicates that if emotions change, sellers may face pressure.

According to Foresight News, Willy Wo tweeted that "perhaps counterintuitively, when old coins flow, the market seems to value BTC more in the long run. Today, 80000 ancient bitcoins were transferred to new wallet addresses, increasing the estimated value of the CVDD floor model (a Bitcoin bottom valuation model) from $35000 to $37000. In addition, Willy Woo further elaborated on the CVDD model, stating that "when Bitcoin is transferred from an old investor who bought it for $1 to a new investor who bought it for $100000, the new investor will evaluate the value of these bitcoins at a higher base price, which helps to increase the recognized base price of the entire Bitcoin supply worldwide. Active custody rotation (i.e. frequent transfers of Bitcoin between different investors or custodians) may also indicate that investors value these bitcoins highly

According to BlockBeats news, on July 5th, according to on chain analyst Ai Yi (@ ai_9684xtpa) monitoring, when the market fell last night, a certain address that bought and hoarded WBTC in 2020 recharged 40 WBTCs to Binance again after six months. If sold, it would make a profit of 3.846 million US dollars. It is reported that the giant whale hoarded 319.19 WBTCs at an average price of $11541.45 in August 2020.