A dormant Bitcoin whale deposited 2,300 BTC on Paxos, a regulated blockchain firm focused on issuing stablecoins and managing digital asset transfers. The whale maintains a total holding of 32,490 BTC worth approximately $3.4 billion, on-chain data shows.

Dormant Bitcoin holders have recently been moving assets to exchanges after years of inactivity, signaling potential shifts in long-term holding strategies.

Paxos has been actively involved in stablecoin operations, including handling large-scale minting activities for digital currencies tied to traditional finance.