Crypto whale watchers are tracking two massive Bitcoin holders who are sending large amounts of BTC to Coinbase.
The first whale moved a total of 3,500 BTC worth $113.2 million across three separate transactions – all in the span of less than one hour, according to the ledger monitor Whale Alert.
The whale is the 13th largest on record, according to the current rich list from BitInfoCharts.
• 1,500 BTC worth $48.6 million transferred from unknown wallet to Coinbase
• 1,000 BTC worth $32.3 million transferred from unknown wallet to Coinbase
• 1,000 BTC worth $32.3 million transferred from unknown wallet to Coinbase
The total transaction fees combined cost just $89.61.
Minutes after the first whale sent its last transaction, a second whale moved 1,698 BTC worth $55.4 million from another wallet of unknown origin to Coinbase.
The sending wallet was also one of the richest in existence before the wallet was drained, coming in at number 841 on the BitInfoCharts rich list.
Although this pair of Bitcoin whales may be looking to sell their coins on the leading US exchange, data from the analytics firm Glassnode shows the majority of BTC holders continue to pull their coins off of exchanges to non-custodial wallets.
Coins leaving exchanges for deep storage. pic.twitter.com/onk6ES4VSd
— Preston Pysh (@PrestonPysh) January 23, 2021
The number of addresses containing 1,000 BTC or more is also on the rise and has spiked to about 2,460, up from 2,130 at the start of the year.
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Featured Image: Shutterstock/Yurchanka Siarhei
