Massive Bitcoin Whale Transactions Move More Than $1,900,000,000 in Crypto

Crypto whale activity has hit a fever pitch over the last 24 hours as deep-pocketed investors move nearly $2 billion worth of Bitcoin.

The distributed ledger monitoring Whale Alert has reported dozens of giant BTC transactions in the last day.

One of the largest involved a whale relocating 7,731 BTC worth $414.75 million from an unknown wallet to a separate wallet of unknown origin.

Another transaction shows a high-rolling entity shifting 5,000 BTC worth $276.11 million from an unknown wallet to crypto exchange Bitstamp, where it could potentially be sold on the open market.

Another Bitcoin holder moved 2,941 BTC worth $160.12 million between two wallets of unknown origins.

All in all, Bitcoin whales transferred a total of 35,512 BTC worth $1.92 billion in the last 24 hours.

Nine transactions moved BTC from crypto exchanges to unknown wallets. Four transactions shifted BTC between crypto exchanges while three transactions saw BTC transferred from unknown wallets to crypto exchanges, where they could be sold or traded in the open market.

Two entities moved their BTC between wallets of unknown origins. In addition, one whale transferred BTC from a crypto custodial platform to a crypto exchange. Another whale relocated BTC from a custodial platform to an unknown wallet.

Here’s the summary of the largest BTC transactions in question.

The rise in whale activity comes amid a Bitcoin correction that saw the largest cryptocurrency drop to a seven-day low of $48,967.

At time of writing, BTC is trading at $51,592, according to CoinMarketCap.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/cinzia murgia

 

Source: https://dailyhodl.com/2021/02/23/massive-bitcoin-whale-transactions-move-more-than-1900000000-in-crypto/