A new wallet address that went from zero to holding over 10,000 bitcoin (BTC) since the start of November has been identified as belonging to crypto exchange BitMEX.
The rapid accumulation led to speculation it could be a new entity buying bitcoin, especially amid a flurry of spot bitcoin exchange-traded fund (ETF) filings in the U.S.
On-chain analytics firm CryptoQuant told CoinDesk in a Thursday note that the address, bc1qchctnvmdva5z9vrpxkkxck64v7nmzdtyxsrq64, was a new one for the BitMEX exchange's cold wallet, or a type of custody that isn't connected to the internet.
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