“Mr.100”, a mysterious address that has attracted attention from the cryptocurrency community for purchasing approximately 100 bitcoins each time, has recently been confirmed by the cryptocurrency intelligence platform Arkham to be the cold wallet of the Korean exchange Upbit.
(Previous Summary:
Who is the mysterious whale Mr.100? Buying over 7,700 BTC in a single month, ranking 15th among bitcoin wallets.)
(Background:
Reason for Bitcoin’s plunge? 14-year dormant “Satoshi Nakamoto peer miner” sells 1,000 BTC, profits increase 240,000 times)
The mysterious “Mr.100” wallet has garnered widespread attention in the cryptocurrency community for its multiple purchases of 100 bitcoins (accumulating over 50,000 BTC), sparking debates on whether a new bitcoin whale has emerged. Now, its true identity has finally been confirmed by the cryptocurrency intelligence platform Arkham.
Mr.100 = Upbit Cold Wallet
Arkham has labeled Mr.100 as the cold wallet of Upbit, South Korea’s largest exchange, disappointing the community’s expectations for a new whale. Additionally, in response to the regular purchase of 100 BTC each time by this address, cryptocurrency analyst @defioasis clarified that this behavior is not a purchase, but rather a specific operation taken by Upbit when organizing its cold and hot wallet assets.
In fact, the on-chain analyst Mai previously predicted that this address may be related to Upbit, citing several reasons to support the claim that Mr.100 is Upbit’s market maker:
1. This address is very active during Asian trading hours, with approximately 75% of its activity occurring during this time, while the rest is during U.S. trading hours.
2. It accumulates bitcoins through many exchanges, but 90% of them come from Upbit and Bithumb, with occasional purchases on Binance and OKEx. Therefore, this is likely an address where Upbit stores its bitcoins.
3. Mr.100’s transactions are all conducted by trading bots, and it uses small wallet addresses to purchase BTC, similar to Upbit’s behavior of using small wallet addresses to buy altcoins on Ethereum. Moreover, there are records of interaction between this address and the founders of Upbit and Bithumb.
Upbit Cold Wallet Becomes the 15th Largest Bitcoin Holder
According to data from Arkham, Upbit’s cold wallet currently holds 50,564 bitcoins, which, based on the current price of $73,539, amounts to a total value of $3.72 billion. Furthermore, according to data from BitInfoCharts, the unrealized profits of this address have exceeded $2.2 billion.
This address has become the 15th largest bitcoin whale, accounting for 0.26% of the total bitcoin supply, surpassing the cold wallets of Gemini and Bybit.
On-chain records show that this address accumulated a total of 7,723 BTC in February, and its activity in March is as follows:
– On the 12th, four transactions deposited a total of approximately 400 bitcoins.
– On the 8th and 6th, it transferred out 650 and 360 bitcoins, respectively, to its hot wallet.
– On the 1st, two transactions deposited a total of 208.87 BTC.
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