Whales Send 54,950 BTC Worth $1.49 Billion in Series of Giant Transactions – Here’s Where the Crypto Is Heading

A number of high-net-worth crypto holders known as whales are busy moving billions of dollars worth of Bitcoin as the leading cryptocurrency continues to show signs of strength.

In the last 24 hours, crypto whale watching bot Whale Alert tracked nine large transactions to the tune of 54,950 BTC worth about $1.49 billion at time of writing. 

The largest transaction of the day witnessed a whale relocate 9,500 BTC worth $257.2 million from a wallet of unknown origin to another wallet of unknown origin.

Another large crypto holder shifted 9,099 BTC worth $247.5 million from an unknown wallet to an unknown wallet.

On top of these transactions, five large crypto holders moved thousands of BTC between wallets of unknown origins. None of the transactions appear to be sending crypto to exchanges, where it could then be sold on the open market.

One transaction transferred BTC from crypto exchange Binance to a crypto custodial firm and another transaction move BTC from crypto exchange Coinbase to a wallet of unknown origins. Here’s the summary of the recent transactions:

• 9,000 BTC worth $245.8 million sent from unknown wallet to unknown wallet
• 8,500 BTC worth $231.2 million sent unknown wallet to unknown wallet
• 4,500 BTC worth $122.4 million sent from unknown wallet to unknown wallet
• 4,500 BTC worth $122.4 million sent from unknown wallet to unknown wallet
• 4,000 BTC worth of $108.6 million sent from Binance to Xapo
• 3,655 BTC worth $99.1 million sent from unknown wallet to unknown wallet
• 2,186 BTC valued at $59.5 million transferred from Coinbase to an unknown wallet

Featured Image: Shutterstock/MoVille