The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Whale Moves $603,001,756 in Bitcoin in Single Transaction – Here’s Where the Funds Are Headed

by Daily Hodl Staff
April 17, 2021
in Bitcoin

A high-rolling Bitcoin whale has suddenly moved an enormous stash of BTC worth hundreds of millions of dollars in a single transaction as the world’s leading crypto asset flirts with yet another all-time high.

On April 16th, blockchain analytics tool Bitcoin Block Bot picked up the transaction in which the mysterious entity shifted a total of 9,610 BTC valued over $603 million from multiple addresses to two wallets of unknown origins in a single transaction for a fee of just $24, according to distributed ledger tracker Blockchain.com.

Source: Blockchain.com

Blockchain.com shows that the wallet that received 9,000 BTC has a history of 31 transactions and holds a massive fortune of 62,601 BTC. The second wallet that collected 610 BTC has a history of a single transaction. Both the receiving wallets have yet to spend the BTC troves.

BitInfoCharts reveals that the wallets that sent 5,610 BTC and 3,999 BTC were among the richest wallets in existence prior to the transactions. At time of writing, both sending wallets are empty.

So far, none of the addresses in the massive transfer have been linked to known crypto individuals or organizations, and the BTC does not appear to be heading to an exchange, where it could be sold on the open market. The transfer also comes as Bitcoin continues to trade above the $1 trillion market capitalization.

On-chain data analyst Willy Woo says that Bitcoin is undergoing a massive supply shock, similar to the inventory depletion of 2017.

“We can see this from tracking the flows of coins out of the exchanges, where typically people speculate or buy and sell their coins, and they have a set inventory, some of which is allocated for speculation. We’ve just seen an unprecedented amount of depletion of that inventory.

If you look back in the 2017 bull market, we saw like a five-month depletion of inventory, and that was enough to propel the bull market of 2017 right up to the $20,000 [mark] from what initially was about $1,000 to $1,500 when the inventory depletion ended, and now we’re in this zone of the Lehman’s 12 months of inventory depletion.”

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/80’s Child

Submit a Press Release

Industry Announcements

  • Sui Joins DeFi Leaders, Topping $100 Million in Bridged USDC
    December 7, 2023
  • WOW EARN Unveils Layer One Blockchain, Redefining Efficiency and Global Accessibility
    December 5, 2023
  • LandX Closes Private Round Securing Over $5 Million in Private Funding
    December 4, 2023
  • Chromia Confirms Mainnet Release in 2024
    December 4, 2023
  • CAGA Crypto – Decentralized Financial Movement Unveiled on MEXC and Bitget
    December 4, 2023
  • TMNG Tokens Successfully Listed on MEXC Crypto Exchange
    December 1, 2023
  • Sui Surpasses $150 Million in TVL, Showcasing Blistering DeFi Momentum
    November 30, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$41,608.15
$41,608.15
5.21%
Ethereum
$2,205.64
$2,205.64
6.26%
Cardano
$0.542725
$0.542725
8.9%
XRP
$0.618472
$0.618472
6.56%
Dogecoin
$0.094289
$0.094289
6.45%

Spotlight

  • Crypto Strategist Unveils Bitcoin (BTC) Path to $83,000, Gives Short-Term Ethereum Price Target
    December 4, 2023
  • Crypto All Set for Renewed Economic Expansion As Biggest TradFi Firms Eye Industry With Envy: Raoul Pal
    December 4, 2023
  • ‘Giant Whale’ Accumulates 41,779 Ethereum (ETH) Worth $76,800,000 Since September: On-Chain Data
    December 4, 2023
  • PlanB Says Bitcoin Price Explosion to $60,000 Range Imminent As BTC Halving Approaches
    December 4, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2023 The Daily Hodl