The day the $150 million was transferred out of the miner's wallet, the price of bitcoin decreased by 3%.
ARRANGEMENT (as of April 26, 13:52 UTC):
According to a previous version of this article, the monies may have been shifted by the mining company Poolin.
(Apr. 25, 17:41 UTC) UPDATE:
Adds information on Poolin and WuBlockchain's denial of CryptoQuant's possible mislabeling of the wallet. According to CryptoQuant data, a mining company transferred $150 million worth of bitcoin from its wallet to Binance on April 21, just as the value of the biggest digital currency fell to $28,000. Since December 2020, this is the largest outflow from a mining company. The name of the business that transported the bitcoin couldn't be immediately confirmed by CoinDesk.
Poolin, a mining pool that locked user wallets in September owing to liquidity issues, relocated the assets, according to a story published yesterday by CoinDesk, citing CryptoQuant. The information was contested by Kevin Pan, the CEO and founder of Poolin, to CoinDesk on Tuesday. He added that the wallet address did not correspond to the company's profile or behaviour. WuBlockchain, a news outlet, tweeted that the address may have been mislabeled in the interim. It was impossible to contact CryptoQuant for comment.
Although the data company initially misidentified the wallet as belonging to Poolin, they verified that the entire context is accurate, indicating that a mining company actually moved the $150 million. On Wednesday, CryptoQuant noted that it was probably AntPool, a subsidiary of Bitmain, that shifted the money. A comment from AntPool could not be obtained at the time of publication.There is a "higher probability that the wallet address is more affiliated with the AntPool entity than Poolin entity," the data and intelligence company informed CoinDesk. The clustering process will always have some degree of error, and the bridge wallet address particularly challenging.
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