Crypto sleuths are tracking a transfer that witnessed a large Bitcoin whale abruptly drain a BTC wallet to the tune of hundreds of millions of dollars.
The high-rolling crypto entity just shifted 17,473 BTC worth $615 million for a fee of about $3.
The transaction was initially sighted by the automatic distributed ledger monitoring tool known as the Bitcoin Block Bot.
According to the most recent block explorer data, the whale relocated the BTC fortune to three separate addresses.
The addresses involved do not have any known ties to a firm that invests or works in the crypto industry. Also, the Bitcoin in question has not been shifted to any known addresses owned by crypto exchanges, where it could be traded and sold on the open market.
BitInfoCharts shows that the massive whale created the original wallet on January 15th and received a substantial amount of BTC on the same day.
With Bitcoin trading above $36,000, on-chain analytics platform WhaleMap says whales appear to be interested in buying BTC dips at the $30,000 level.
“This is how you trade whale bubbles for anyone wondering. Also, large inflows to whale wallets were happening at $29,314.
They will be protecting their BTC… This should be strong support for Bitcoin in the short term, and hopefully long term.”Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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Featured Image: Shutterstock/Leonid Ikan