2 days ago, I reported that a SilkRoad related wallet containing about $1B worth of Bitcoins (111,114 $BTC and the same amount of $BCH and of other Bitcoin forks) was on the move after 4 years and 5 months of inactivity : https://www.reddit.com/r/Bitcoin/comments/9bfnff/near_1b_are_currently_on_the_move_from_a_silkroad/
Today, I will dig a little bit more into this wallet activity.
Below you will find a graph representation of the transactions sent over time from the original 111,114-BTC wallet to the most recent wallets which have received some of the coins. Each branch represent a sequence of transactions sent through several wallets.
Red nodes indicate the most recent transactions (< 1 month), blue nodes indicate quite recent ones (<1 year) and green nodes are the older ones ( > 1 year).
- Picture 1: here is the location of original wallet within the graph (15ihHoGs3onQBNnEH8afDFGvou9nD62Hm7).
https://i.redd.it/jjhfpb4udhj11.png
- Picture 2: original coins are currently transferred on Binance wallet, in fact it is a major end-point/aggregate of transactions originated from the 111,114-BTC wallet (1NDyJtNTjmwk5xPNhjgAMu4HDHigtobu1s).
https://i.redd.it/7novcf2wdhj11.png
- Picture 3: coins are being sold on Binance, here 100 BTC transferred to Binance wallet on August 29th (174EZQcfnJS5ChVsTbZaJMmjFCYykMLu9t).
https://i.redd.it/9ungmsexdhj11.png
- Picture 4: funds are currently actively mixed, you can see a chain of red nodes with no other purpose than transferring n time the coins and splitting/mixing it a bit (3Ah15skNb8R1teRWs6h2Q2vRywkLJWUhhb).
https://i.redd.it/9lzr31n0ehj11.png
So it's now obvious that the wallet's owner :
- is very actively splitting his original 111,114 BTC this past month (a lot of transactions are very recent, see the amount of red nodes on the graph);
- some of this funds are currently being sold on Binance (picture 2 and 3);
- is very actively in the process of mixing, hiding and making difficult to track his coins (picture 4).
Is the owner going to sell all his coins? How do you think this can impact the market?
Update 1
Following the request of u/btc-reddit, below you will find the graph that marks with red dots the wallets which have been active in the past 24h. At least 88 BTC have been transferred in the last 24h to Binance wallet: 18afibtW5NLMqMwCZD6yt1qhkmEbrfa3QF , 1M2stLGnZGi9XhB2sqTwFfcSfxZhzYKHs6 , 15jFKpCBfHN599TopLPQYdv2aNCRZSUw2r , 1F1EWmLJtYUA1yvDGRBQ6Z6Zjp33ci9EZX , 1M2stLGnZGi9XhB2sqTwFfcSfxZhzYKHs6 ...
https://i.redd.it/v4yql8ftvhj11.png
Furthermore, more than 2,980 BTC have been transferred to Binance wallet in August 2018, certainly to be sold or exchanged with other currencies, which represents 3% of the original wallet.
That's more than $20M worth of bitcoin at current price, it definitely can have impacted the overall price this month.
Most of it was sold after August 12th, which corresponds to the start of an increase in Bitcoin price interestingly:
https://i.redd.it/lg3ckep3zjj11.png
Update 2
This address is also heavily involved in this graph: 1NyfNYAXZ76VNdvxUUVxdbhWFQGa7QDjTn. It saw 73,673 BTC go through it (only 350 BTC originated from the wallet we are studying here though), in a little bit more than a year.
https://i.redd.it/sbkx1etviij11.png
Update 3
This address 3D83uPnvodCLpwedooiRrLjdQ9pcFVZF32 is part of the graph and is multiplexing a lot of coins, about 175 BTC in small chunks < 1 BTC.
Update 4
This is a more refined and complete version of the graph (the yellow nodes indicate transactions activity < 1 month). I let you find where is Binance wallet located ;-)
Obvious, isn't it!
https://i.redd.it/y9e8tdlodkj11.png
T.B.C
Submitted September 01, 2018 at 03:47AM by sick_silk http://bit.ly/2N78VjW
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