The price of Bitcoin has fallen below the $60,000 area, and many people have been talking about the third largest Bitcoin address named “1P5ZED”, which has accumulated thousands of Bitcoins in the past few days. No one knows who the owner of the wallet is, but it holds more than 111,359 bitcoins because it has been steadily increasing bitcoins since the wallet’s first transaction on February 5, 2019. Although some people think that the address is a huge Bitcoin whale, the data on the chain also shows that the wallet can be tied to an exchange.

Countless stories related to the third largest Bitcoin wallet speculate that the address is a whale that “buy down”

Bitcoin Legal value Has been unstable, this is one of the times when everyone is looking for answers to the reasons Bitcoin Decline in value. For example, on November 10th, Bitcoin (Bitcoin) Fell from an all-time high (ATH) of US$69,000, and after five days, it was sliding in the range of US$65,000 to US$66,000 per unit. Since the ATH of encrypted assets, the value of Bitcoin has fallen by 16% and has fallen below the $60,000 area.Of course, volatility triggered Whale watcher with People talking Regarding real-time Bitcoin whale transactions.

The third largest Bitcoin whale just
Bought the dipping sauce! – buy one
Of 1.123 Bitcoin (72 million
USD), the price is 64,000 USD #BTC #buythedip #cryptobrothers #Ethereum #SHIB #Crypto transaction https://t.co/RWA5hIj02A

-Crypto Brothers (@CryptoBroUK) November 13, 2021

Bitcoin whales are individuals or organizations with large amounts of funds Bitcoin Whales can also come in various sizes.Depends on who you ask Bitcoin Whales can be owned 1,000, 10,000, 50,000 and 100,000+ Bitcoin. Holds more than 100,000 Bitcoin Will be regarded as a “giant whale” and only three Bitcoin addresses exist, 100,000 Bitcoin or more.Top five largest Bitcoin The size of the wallet is between 84K and 288K Bitcoin Three of the wallets are marked or marked as exchanges.

recent, Encrypted publication and a Large numbers of individuals on social media And forums, already Speculation Action on the third largest Bitcoin wallet.Talk already trend And many people Believe A big whale “bought”, and Bitcoin Slipped. Bitcoin.com news has seen some Large whale sightings and also Among Bitcoin A new price high was set 9 days ago. Although the whales discovered by our news team came from Bitcoin block rewards mined more than ten years ago.

On-chain data and cluster spending show that the third largest Bitcoin address belongs to a cryptocurrency exchange

The third largest bitcoin (Bitcoin) Address was first created on February 5, 2019, when it received a small portion of Bitcoin. Seven days later, the data on the chain showed that the wallet received 1,119 Bitcoin Wallet address on February 12, 2019 “1P5ZED“It doesn’t look like individual Bitcoin holders. The transactions processed by 1P5ZED look more like trading activities from an encrypted trading platform. As mentioned above, three of the top five Bitcoin The addresses are marked as being associated with cold wallets belonging to Binance, Bitfinex and Okex.

1P5ZED has all the signs associated with the exchange and is not certain, but it has been flagged several times.This address received a lot Bitcoin In the past two years, occasionally spent Bitcoin as well as. 1P5ZED trade According to statistics from blockchair.com, there is almost no privacy, because the block explorer privacy tool indicates that most of its transactions are done with a very low preference for privacy. In terms of traceability level, the privacy level of most transactions of 1P5ZED is “critical” to “low”. There are vulnerabilities in transactions, such as matching addresses and often similar inputs and outputs.

#Bitcoin The third largest non-exchange whale address (1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ) has been purchased a total of 3038 Bitcoin Starting from the 16th in batches for four consecutive days, the average price is about $59744.22

Source?https://t.co/NwewDCXXqr

— CoinCarp (@coincarpcom) November 19, 2021

Block explorer comments further suggestions 1P5ZED belongs to the exchange

On the block explorer oxt.me, The address 1P5ZED has a note related to it, indicating that the address may be associated with the exchange. The first comment on 1P5ZED on oxt.me says that it was submitted by a person named “TEJAS” on November 22, 2020. The person wrote “It may be Bittrex” and also left a link in the comment.this Reference article A 717 Bitcoin It is said to be a transfer between Bittrex and 1P5ZED.

The second comment on the block explorer oxt.me was added by “ERGOBTC” on July 14, 2020.The note says “The address source suggests Gemini or Coinbase.” This led us to analyze the transactions of 1P5ZED in the past two months, and the results showed that 1P5ZED and Bitcoin Wallet address As. . And be known”1FzWLk. Although 1FzWLk has a lot of transactions with 1P5ZED, 1FzWLk is also Mark with comments About the address on oxt.me.

ERGOBTC also submitted a 1FzWLk comment. On the same day, the second comment was applied to 1P5ZED. “[1FzWLk] Whale Alerts is annotated as Okex. Although the sources and cluster expenditures indicate a closer connection with Coinbase and Gemini. “Although it is uncertain whether 1P5ZED (which acts like a cold wallet on an exchange) and 1FzWLk (which acts more like a hot wallet) are trading platforms, there is more supporting evidence that 1P5ZED may be owned by the exchange.

Do you think 1P5ZED is a random whale address or do you think it belongs to an exchange? Please tell us your thoughts on this topic in the comments section below.

Image Source: Shutterstock, Pixabay, Wiki Commons, oxt.me, bitinfocharts.com,