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Tag: Moves

  • Ethereum ascends: Institutional pivot and dormant whale moves signal a new era

    Ethereum ascends: Institutional pivot and dormant whale moves signal a new era

    Ethereum ascends: institutional pivot and dormant whale moves signal a new era

    • Bit Digital shifts treasury from Bitcoin (BTC) to over 100K ETH.
    • Dormant Ethereum wallets move millions after 10 years.
    • ETH/BTC bull flag hints at a 35% breakout by August.

    Ethereum (ETH), the world’s second-largest cryptocurrency by market capitalisation, is stepping into what many believe could be a transformative phase, marked by growing institutional alignment and renewed on-chain activity from long-dormant whales.

    Momentum around the asset has intensified in recent weeks, with fresh technical setups, corporate accumulation, and protocol-level proposals all converging to highlight Ethereum’s evolving position as not just a programmable blockchain but also a premier financial infrastructure layer.

    Dormant giants awaken

    Blockchain analysts have spotted multiple early Ethereum wallets springing to life, with some holding “genesis” coins untouched since 2015.

    In one case, a wallet that received 900 ETH when the asset traded below $0.50 moved its holdings after nearly a decade, triggering curiosity across the crypto space.

    On the same day, another wallet, also tied to Ethereum’s genesis phase, transferred 240 ETH after remaining inactive for exactly 3,630 days.

    While the holders are not technically whales by Ethereum’s classification, such movements often reflect either confidence shifts or strategic repositioning, particularly amid market optimism.

    The renewed activity echoes a broader pattern across the digital asset space, where legacy Bitcoin wallets have also been reactivating, in some cases after more than 14 years of dormancy.

    These sudden moves by early adopters signal that legacy stakeholders are once again paying close attention to Ethereum’s trajectory, especially as it gains ground on Bitcoin in structural and financial terms.

    Institutions turn to Ethereum

    Leading this shift is Bit Digital Inc., a Nasdaq-listed company that has effectively gone all-in on Ethereum, making headlines with its aggressive treasury transformation.

    According to a publication by the company, it sold 280 BTC and raised $172 million through a public equity offering to accumulate 100,603 ETH, positioning itself as one of the largest corporate Ethereum holders globally.

    This dramatic pivot comes alongside the winding down of Bit Digital’s Bitcoin mining operations and the rollout of its Ethereum staking infrastructure, which is already among the most advanced in the institutional market.

    CEO Sam Tabar has made it clear that the firm sees Ethereum not just as an asset, but as a foundation for financial reinvention, citing its programmability, staking yield, and growing adoption as core drivers of the shift.

    Beyond Bit Digital, other firms like Sharplink Gaming and BitMine are also joining the fray, with BitMine announcing a $250 million ETH acquisition initiative to deepen its exposure.

    According to CF Benchmarks, this trend is only expected to accelerate, with institutional ETH and SOL holdings potentially increasing tenfold over the next year.

    Ethereum network stability in focus

    Vitalik Buterin, Ethereum’s co-founder, has proposed a new gas cap mechanism to help manage network stress during periods of high demand or spam attacks.

    The proposed cap would introduce a ceiling on total gas used per block, aiming to protect network performance by prioritising essential transactions over low-priority activity.

    If implemented, this strategy could offer greater consistency during congestion while reducing the impact of fee spikes on smaller or new users.

    Such upgrades reflect Ethereum’s maturing ecosystem, especially as developers prepare the protocol for future scaling and broader institutional use.

    Ethereum price outlook: technical analysis signals a bullish momentum

    At press time, Ethereum is trading at around $2,563, up more than 72% over the past three months, with a market capitalisation exceeding $309 billion.

    While ETH remains 47% below its all-time high of $4,878, recent developments, including ETF filings, whale reactivations, and corporate realignment, suggest that investor confidence is building once again.

    On the technical front, ETH/BTC is showing signs of a major breakout, forming what analysts identify as a bullish flag pattern on the three-day chart.

    Should Ethereum break out from its current range, the ETH/BTC pair could climb by as much as 35%, reaching the 0.031 BTC level by August, a potential signal of altseason.

    This comes as the total altcoin market cap tests long-term support, with previous bounces from this trendline often preceding explosive rallies across non-Bitcoin assets.

    The return of capital rotation toward Ethereum and other Layer 1 platforms underscores a clear shift in trader sentiment, especially as confidence grows around Ethereum’s upcoming technical upgrades.

    If the current bullish momentum holds, this may well mark the beginning of Ethereum’s most important ascent yet.
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  • Celsius vs Tether lawsuit moves ahead in US court over $4 billion Bitcoin sale

    Celsius vs Tether lawsuit moves ahead in US court over $4 billion Bitcoin sale

    Celsius vs Tether lawsuit moves ahead in US court over $4 billion Bitcoin sale

    • Celsius claims Tether’s 2022 Bitcoin sale broke contract terms.

    • Over 39,500 BTC were liquidated at $20,656 average price.

    • Claims include breach of contract and fraudulent transfer.

    Celsius Network’s efforts to hold Tether accountable for a $4 billion Bitcoin liquidation just cleared a major hurdle in US court.

    A bankruptcy judge has now allowed Celsius to proceed with legal action against Tether, despite the stablecoin giant’s attempts to halt the case on jurisdictional grounds.

    The lawsuit centres on claims that Tether prematurely and unfairly sold nearly 40,000 BTC during Celsius’s collapse in mid-2022, in breach of a contractual agreement and US bankruptcy laws.

    The ruling could mark a turning point for how global crypto firms are treated in American courts, especially when assets are involved that were managed, sold, or transferred through US-linked systems.

    While the court dismissed some peripheral allegations, it upheld key claims, including breach of contract and fraudulent transfer, allowing Celsius’s case to continue.

    Celsius accuses Tether of early Bitcoin liquidation breach

    The dispute dates back to June 2022, when Celsius was already reeling from the broader crypto market crash. Court filings reveal that Tether had lent money to Celsius and, in return, received collateral in Bitcoin.

    Celsius now alleges that Tether liquidated 39,500 BTC at an average price of $20,656 without providing the contractually required 10-hour notice period.

    The assets, according to Celsius, were liquidated during a time of extreme market volatility, and sold significantly below market value. Celsius claims the early sale resulted in a loss of over $4 billion based on current Bitcoin prices.

    Moreover, the company alleges that Tether later transferred the liquidated BTC to Bitfinex, a platform operated by Tether’s sister company, raising concerns around related-party dealings and asset custody.

    US court rejects Tether’s jurisdictional challenge

    In its defence, Tether had argued that the case should be thrown out because it operates from the British Virgin Islands and Hong Kong. The company said US courts had no jurisdiction over its business.

    However, the judge disagreed, pointing to the fact that Tether used US-based staff, bank accounts, and communication systems in its dealings with Celsius.

    The court ruled that Tether’s actions were sufficiently “domestic” to fall under US legal scrutiny.

    This decision now paves the way for Celsius to pursue several key legal charges including breach of contract, fraudulent transfer, and preferential treatment of certain creditors—allegations that strike at the core of how digital asset lenders and stablecoin issuers operate.

    Broader implications for crypto lending and stablecoin governance

    Legal experts say the outcome of this case could influence the regulatory treatment of stablecoin issuers, particularly in the US.

    If Celsius is able to demonstrate that Tether mismanaged client assets or failed to honour notice periods during market stress, it may prompt calls for stricter oversight on asset liquidation procedures, especially for offshore firms operating through US financial infrastructure.

    The case may also set a precedent for future cross-border lending disputes and clarify whether offshore crypto companies can be held accountable in US bankruptcy proceedings.

    The outcome could therefore impact how other large digital asset firms manage collateral and liquidity risk during market downturns.

    Tether grows market presence amid legal scrutiny

    Despite the ongoing legal challenges, Tether has continued to expand its footprint in the crypto sector. The company recently acquired a majority stake in Twenty One Capital, a firm associated with Strike CEO Jack Mallers.

    This move connects Tether to the third-largest corporate Bitcoin holder globally.

    In another significant development, Tether transferred around 37,230 BTC—currently worth $3.9 billion—to addresses associated with its trading operations.

    The company appears to be consolidating its Bitcoin reserves even as it navigates the legal fallout from the Celsius collapse.

    Meanwhile, speculation continues over Tether’s valuation and a possible initial public offering.

    However, CEO Paolo Ardoino has denied any plans for a public listing, stating that the firm is not preparing for an IPO despite rumoured valuations nearing $500 billion.

    As the Celsius case moves into the next phase, attention will remain on how Tether responds to mounting legal pressure in one of the largest financial disputes in crypto history.
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  • Mt. Gox moves $2.2 billion in Bitcoin as it works to repay creditors

    Mt. Gox moves $2.2 billion in Bitcoin as it works to repay creditors

    • Mt. Gox moved 32,371 Bitcoin to two wallets, amounting to $2.19 billion
    • The movement follows the transfer of 500 Bitcoin worth more than $35 million
    • In October, Mt. Gox announced it was pushing its repayment deadline to October 31, 2025

    Defunct crypto exchange Mt. Gox has moved another $2.19 billion to two unmarked wallets, according to data from blockchain analytics firm Arkham Intelligence.

    Of the $2.19 billion, 30,371 Bitcoin was transferred to wallet 1FG2C…Rveoy. The extra 2,000 Bitcoin was sent to a cold wallet before being transferred to wallet 15gNRV…Aok. According to data from Arkham, the movement of Bitcoin comes five days after the exchange moved 500 Bitcoin worth over $35 million.

    It’s one of the largest movements the exchange has made this year. In May, it was reported that Mt. Gox had transferred over $9 billion worth of Bitcoin to a new wallet. In July, the platform moved a further $2.8 billion. In both of these instances, it was thought Mt Gox’s trustee was preparing for repayment to creditors.

    It may be that this further movement of Bitcoin is related to repaying creditors, something they have been waiting for since a hack caused the exchange to collapse in 2014. In October, Mt. Gox pushed its repayment deadline to October 31, 2025, adding another year from its original date.

    Last month, Mt. Gox said the extended deadline was down to two things: creditors not completing the repayment steps and issues arising from the repayment process.

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  • Mt. Gox moves Bitcoin worth nearly $2.8 billion

    Mt. Gox moves Bitcoin worth nearly $2.8 billion

    • Mt.Gox has moved over 44,500 BTC worth over $2.8 billion to an internal wallet.
    • The price of BTC fell slightly after the transfer, retreating to around $62,835.

    On-chain data shows a wallet linked to Mt. Gox has just moved more than $2.8 billion worth of Bitcoin.

    The huge transfer comes as Bitcoin price looks to hold gains seen since last weekend’s attempted assassination of Donald Trump.

    Mt.Gox transfers over $2.8 billion in BTC

    On Tuesday, Lookonchain shared details of a large BTC transfer.

    Citing data tracked by blockchain analytics firm Arkham, the platform said the transfer originated from the wallet of defunct crypto exchange Mt. Gox.

    The said Mt. Gox wallet moved over 44,500 BTC worth over $2.84 billion, with this going to an internal wallet. Market anticipation is that the exchange’s trustee could be preparing for a repayment round following an announcement in late May.

    Mt. Gox moved 47,000 bitcoins last month ahead of the expected repayments commencement date this July. As then, Tuesday’s transfer saw the price of BTC slip slightly from above $63,000.

    Analysts at Bitfinex said in a report on Monday that while positive news will continue to dictate BTC movement, the threat of fresh sell-off pressure remains. Mt. Gox, which currently holds 138,985 BTC worth over $8.8 billion, is likely to be one source of this anticipated downside pressure.  

    “Crypto asset prices in general in the current period have been determined by the news agenda, rather than fundamentals. Selling pressure concerns have not completely disappeared as Mt. Gox creditors are also scheduled to receive their BTC payouts over the next couple of weeks. We expect these headlines to continue to have some impact on price before a complete pricing in of the situation,” Bitfinex analysts wrote in the weekly report.

    Bitcoin currently trades around $62,835.

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  • BTC Whale moves $37M worth of bitcoins after eleven years of inactivity

    BTC Whale moves $37M worth of bitcoins after eleven years of inactivity

    • There has been an increase in the number of early crypto holders moving tokens to new wallets.
    • The BTC whale moved all their bitcoins to a new wallet.
    • Whales make such moves in preparation for selling or alternative investments.

    Lookonchain has revealed that an early Bitcoin (BTC) holder transferred $37 million worth of bitcoins to new wallets after eleven years of inactivity. The move has ignited speculation about the motive behind this move.

    In the early hours of Wednesday, the Whale, a term used to describe a powerful owner of any financial asset, transferred all of their 1,037.42 bitcoin to a new address, “bc1qtl.” Although involving a staggering BTC amount, the token movement has had very little impact on the market seeing that Bitcoin (BTC) price has barely moved. BTC was trading at $29,192.78, up 0.06% in the past 24 hours.

    It is important to note that the transferred bitcoins were received on April 11, 2012, when the price was $4.92. The 1,037.42 BTC was at the time worth $5,107.

    Why did the Whale transfer the BTC?

    While such large cryptocurrency movements from early participants are mostly uncommon, they could mean the holder is preparing to sell the cryptocurrencies, stake on an exchange, or diversify their holdings for other tokens.

    The move is the most recent in a string of older wallets moving bitcoin (BTC) and ether (ETH) tokens to exchanges this year. At least four wallets transferred millions of dollars worth of bitcoins to exchanges or to other wallets in April.

    A wallet that had acquired over 61,000 ether (ETH) in an ICO eight years ago also transferred the entire sum to a wallet connected to the Kraken cryptocurrency exchange last week. These holdings, which were acquired during the ICO for 31 cents per token, are currently valued at over $116 million.

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  • Celsius moves $59M MATIC, LINK, other altcoins to exchange

    Celsius moves $59M MATIC, LINK, other altcoins to exchange

    • Celsius has moved over $59 million of altcoins to FalconX ahead of possible liquidation.
    • The crypto lender plans to convert the tokens to BTC or ETH.
    • Celsius’s largest altcoin holding is its native CEL token, currently worth over $106 million.

    Celsius Network moved millions of dollars’ worth of altcoins on Monday, among them Polygon (MATIC), Chainlink (LINK) and Aave (AAVE).

    As CoinJournal reported in June, the US bankruptcy court recently allowed Celsius to proceed with plans to liquidate multiple coins and tokens beginning July 1, 2023. 

    The crypto lender had indicated it would be converting these into Bitcoin (BTC) and Ether (ETH) as part of the preparation towards reimbursing customers impacted by the crypto company’s bankruptcy filing in July 2022.

    Celsius moves Polygon, Chainlink and Aave tokens to FalconX

    According to on-data from crypto security platform Arkham Intelligence, Celsius deposited $59.4 million worth of various tokens to institutional crypto trading platform FalconX. Per Arkham data, Celsius transferred $13.6 million worth of MATIC, $10.7 million in LINK, and $7.3 million in AAVE to an address controlled by FalconX.

    The Data Nerd shared details of the transfers:

    The transactions followed earlier transfers involving $8.5 million worth of LINK, $7.8 million of SNX (a Synthetix native token) and $3 million in BNB token. Other tokens sent to the FalconX wallet address include 0x Protocol (ZRX), 1inch (1INCH) FTX Token (FTT) and Tether Gold (XAUT).

    Blockchain sleuth Lookonchain also highlighted that FalconX had started depositing the received tokens onto Binance – suggesting the sale was on.

    After these transfers, Dune Analytics data shows the Celsius portfolio still holds over $106 million worth of its native token CEL, $47 million in other altcoins (including $16.5 million in MATIC and $12.7 million in AAVE) and over $29 million in stablecoins ($24 million in USDC and $2 million in USDT).

    While Celsius moves ahead with plans to convert the altcoins into BTC or ETH, blockchain firm Kaiko recently noted that the Celsius team might find it difficult to liquidate a number of tokens due to their illiquidity. One of these is CEL, which has next to zero liquidity.

    Elsewhere, analysts at Kaiko say the potential sell-off pressure from the liquidations could impact downward pressure on some of the tokens.

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  • Crypto Whale Abruptly Moves 3,388,119,787,804 Shiba Inu (SHIB) in Massive Transaction

    Crypto Whale Abruptly Moves 3,388,119,787,804 Shiba Inu (SHIB) in Massive Transaction

    A high-net-worth crypto investor is suddenly moving a massive amount of meme asset Shiba Inu (SHIB) in a single transaction.

    According to new data from whale-surveying platform Whale Alert, the deep-pocketed investor abruptly shifted 3,388,119,787,804 SHIB worth about $34 million at time of writing from one unknown wallet to another.

    The sending wallet has been completely emptied as it no longer holds any funds or digital assets while the receiving wallet, which was empty before, now holds the millions of dollars worth of SHIB it was sent, according to the blockchain search engine Etherscan.

    Recently, SHIB has seen rising use cases. In a recent company blog post, Coinbase chief product officer Surojit Chatterjee announced a partnership with tech giant Google that would see Shiba Inu along with a suite of other altcoins be accepted by Google Cloud.

    “Google Cloud will be positioned to enable select customers, starting with those in the Web3 ecosystem, to pay for its cloud services via select cryptocurrencies through Coinbase Commerce.

    Coinbase Commerce is a platform that helps merchants anywhere in the world accept cryptocurrency payments. Merchants can get paid in crypto, and access powerful tools for crypto integration and business analysis.”

    SHIB is changing hands for $0.00001 at time of writing, a 1% dip during the last 24 hours.
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    Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

    Featured Image: Shutterstock/Javier Cruz Acosta



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