“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 information platform Arkham to be the cold wallet of the South Korean exchange Upbit.
(Background:
Who is the mysterious whale, Mr.100? Over 7,700 BTC purchased in a single month, ranking 15th in Bitcoin wallets.)
The enigmatic “Mr.100” wallet has garnered widespread attention in the cryptocurrency community for its multiple purchases of 100 bitcoins (accumulating over 50,000 BTC), sparking discussions about the emergence of a new bitcoin holder. The true identity of Mr.100 has finally been confirmed by the cryptocurrency information platform Arkham.
Mr.100 = Upbit Cold Wallet
Arkham has identified Mr.100 as the cold wallet of Upbit, South Korea’s largest exchange, disappointing the community’s expectations of a new whale. Additionally, in response to the regular behavior of purchasing 100 BTC each time by the address, cryptocurrency analyst @defioasis clarified that this behavior is not actual buying, but rather a specific operation undertaken by Upbit when managing its cold and hot wallet assets.
In fact, blockchain analyst Mai previously predicted that the address might be related to Upbit, citing several reasons to support the claim that Mr.100 is Upbit’s market maker:
1. The address is 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, occasionally making purchases on Binance and OKEX. Therefore, this is likely Upbit’s accumulation address.
3. Mr.100’s transactions are all carried out by bots, and it uses small wallet addresses to purchase BTC, similar to Upbit’s behavior of using small wallet addresses to purchase altcoins on the Ethereum network. Moreover, there are records of interactions between this address and the founders of Upbit and Bithumb.
Upbit Cold Wallet becomes the 15th largest Bitcoin holder
According to data from the Arkham platform, Upbit’s cold wallet currently holds 50,564 bitcoins, which, calculated at the current price of $73,539 per bitcoin, amounts to a holding value of $3.72 billion. Additionally, according to data from BitInfoCharts, the address has already achieved unrealized profits exceeding $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. Its activity in March is as follows:
– On the 12th, it received approximately 400 BTC in four transactions.
– On the 8th and 6th, it transferred out 650 and 360 BTC, respectively, to its hot wallet.
– On the 1st, it received a total of 208.87 BTC in two transactions.
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