Long-dormant ETH wallet and major BTC holders move funds before Fed meeting

Key Takeaways

• Large holders made significant ETH and BTC trades ahead of the Fed's interest rate decision.
• SpaceX reportedly executed a large BTC transfer to Coinbase Prime Custody.

Large holders are stepping up on-chain activity as the Fed’s interest-rate announcement approaches.

According to Lookonchain, an early Ethereum wallet holding 850 ETH, worth approximately $2.8 million, sent 1 ETH to Coinbase after ten years of dormancy.

The wallet acquired its original stash for just $263, meaning the investment has appreciated more than 10,000% with ETH now trading above $3,300.

Another whale also flipped from spot selling to massive leveraged ETH longs after unloading 1,654 ETH for over $5 million, on-chain data shows.

Bitcoin whales are also on the move. MARA Holdings, the world’s second-largest corporate Bitcoin holder, transferred about 275 BTC worth $25 million, with 175 BTC hitting FalconX, according to Arkham Intelligence.

Earlier today, Elon Musk’s SpaceX moved $95 million in Bitcoin to unknown addresses, though analysts believe the transfers were likely for custody purposes.