Large crypto holders are moving massive amounts of Bitcoin amid the market downturn.
A total of $1.45 billion has been transferred in just 24-hours, according to blockchain tracker Whale Alert.
The biggest movement sent 13,071 BTC worth $673.8 million in a single transaction. The giant Bitcoin holder in question moved the flagship crypto-asset between two unknown wallets.
This suggests the movement could have been an over-the-counter trade, or an entity moving crypto around for security purposes.
? ? ? ? ? ? ? ? ? ? 13,071 #BTC (673,793,774 USD) transferred from unknown wallet to unknown wallet
— Whale Alert (@whale_alert) March 4, 2021
Another huge Bitcoin whale moved 7,588 BTC worth $387.4 million at the time of the transaction, also from one unknown wallet to another.
In total, Whale Alert spotted 13 large transfers by some of the biggest Bitcoin holders in existence, moving a total of 41,847 BTC.
About half of the transactions happened between unidentified wallets. Three transfers sent assets to the crypto custodian Xapo, including one such transfer from Coinbase. Another whale moved their BTC from Xapo to Binance.
Coinbase recorded two outbound transfers from its custody to unknown wallets and one inbound transfer hailed from Binance.
Luxembourg-based crypto exchange Bitstamp witnessed one large transaction that went to an unknown wallet.
• 4,350 BTC (222,051,625 USD) sent from Bitstamp to unknown wallet
• 2,941 BTC (146,119,781 USD) sent from unknown wallet to unknown wallet
• 2,048 BTC (101,730,486 USD) sent from unknown wallet to unknown wallet
• 1,251 BTC (63,263,732 USD) sent from Coinbase to unknown wallet
• 1,220 BTC (62,539,969 USD) sent from Binance to Coinbase
• 921 BTC (45,794,639 USD) sent from Xapo to Binance
• 470 BTC (24,087,671 USD) sent from Coinbase to Xapo
• 450 BTC (22,357,430 USD) sent from Coinbase to unknown wallet
• 440 BTC (22,521,501 USD) sent from unknown wallet to Xapo
• 387 BTC (19,927,537 USD) sent from unknown wallet to Xapo
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