Tuesday, June 15, 2021

A Rich Bitcoin Whale Moved $1.1 Billion in BTC. Here Is Where the Crypto Is Going

A rich Bitcoin whale captured the attention of the crypto community members after effecting the transfer of over a billion dollars worth of BTC.

One of the richest whales in the crypto space has relocated 30,406 BTC worth $1.1 billion at current prices for a fee of just $11.88.

Read Also: Santiment: Whales Are on Ethereum Accumulation Spree; Good for ETH Price Going Forward

Bitcoin Whale Moved 30,406 BTC in BTC

The huge movement was spotted and reported by the automated distributed ledger monitoring tool, Bitcoin Block Bot.

According to data from the block explorer, the Bitcoin whale transferred the BTC to two separate wallets. The first wallet with a total of 34 transactions received 2,000 BTC, while the second wallet with a total of 2 transactions received 28,406 BTC.

BitInfoCharts shows that the Bitcoin whale first created the sending wallet on 31st December 2020. The day the wallet was created, it received a huge trove of BTC and became the 23rd wealthiest wallet.

Currently, none of the Bitcoin (BTC) involved has been sent to any known crypto exchanges. This indicates that the crypto whale is not dumping the BTC.

Bitcoin (BTC) Whales Are On the Increase

Crypto analytics platform Glassnode is also keeping a close watch on whale activity. In a new tweet, the firm says the number of large BTC whales has been on an increase since the Bitcoin bull market started in October 2020.

Read Also: Bitcoin (BTC) Primary Function is “F*ck You Money” –Jameson Lopp Explains

“The number of Bitcoin whales (entities holding ≥ 1k BTC) has seen an astounding increase. Since the beginning of the year, more than 200 new whale entities have appeared in the network – data supporting the case that institutions are arriving.”

At the time of publishing, BTC is trading at $40,596.22, with a 6.86% price uptrend in the last 24 hours.

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Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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