Bitcoin Whales Move Billions of Dollars Worth of BTC
Deep-pocketed Bitcoin (BTC) traders are suddenly transferring massive amounts of the flagship digital asset to and from crypto exchanges and unknown wallets. According to data from whale-surveying platform Whale Alert, one BTC whale moved 35,049 BTC worth $1,518,020,170 from an unknown wallet to another on January 31st, making it the largest transaction involving Bitcoin that day.
Notable Transactions Involving Bitcoin
Whale Alert also reported several other significant transactions involving Bitcoin on the same day:
- 25,266 BTC worth $1,099,679,062 transferred from an unknown wallet to another unknown wallet.
- 929 BTC worth $39,562,024 transferred from crypto exchange Coinbase to crypto lender Gemini.
- 2,500 BTC worth $106,647,312 transferred from an unknown wallet to payments platform Paypal.
- 1,736 BTC worth $73,943,008 transferred from an unknown wallet to Gemini.
- 34,300 BTC worth $1,476,690,397 transferred from one unknown wallet to another unknown wallet.
- 499 BTC worth $21,794,616 transferred from crypto exchange Binance to crypto exchange Kraken.
- 2,482 BTC worth $106,303,167 transferred from one unknown wallet to another unknown wallet.
- 896 BTC worth $38,153,720 transferred from Coinbase to Gemini.
Total Amount Moved by High-Net-Worth Investors
The total amount of Bitcoin moved by high-net-worth investors on that day amounted to approximately $4.5 billion.
Bitcoin’s Current Price
As of writing, Bitcoin is trading at $42,647, which is a 2% decrease in the last 24 hours and a 12% decrease from its 30-day high of $48,494 on January 11th.
Hot Take: Bitcoin Whales Make Massive Transfers
Bitcoin whales have recently been making significant transfers of the cryptocurrency, moving billions of dollars worth of BTC. These transactions involve both crypto exchanges and unknown wallets, indicating that large-scale investors are actively managing their holdings. The sudden movement of such substantial amounts of Bitcoin raises questions about the intentions behind these transfers and the potential impact on the market. It will be interesting to see how these actions by Bitcoin whales affect the overall dynamics of the cryptocurrency in the coming days and weeks.
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