A heap of Bitcoin (BTC) worth $408 million is on the move and heading to several different wallets.
Whale Alert, which tracks large crypto transfers, says a crypto whale sent 13,003 Bitcoin to a wallet hosted on the exchange Coinbase this week.
The huge transfer cost just $3.72 in fees. One address received the full sum, but it later emptied the entire wallet when it sent the BTC to 101 different recipients.
All but one of those wallets received roughly 129 BTC. Many of these wallets then initiated transfers of the BTC to additional wallets, further dividing up the original sum.
Crypto whale watchers are tracking several additional large transfers over the last 24 hours. Here is a list of large BTC transfers that Whale Alert caught over the past day:
- 1,500 BTC worth $48.7 million transferred from Binance to Xapo.
- 1,016 BTC worth $32.7 million transferred from Coinbase to unknown wallet.
- 800 BTC worth $25.6 million transferred from unknown wallet to Binance.
- 1,477 BTC worth $46.6 million transferred from Coinbase to unknown wallet.
- 1,527 BTC worth $48.3 million transferred from unknown wallet to Coinbase.
- 1,400 BTC worth $44.6 million transferred from Coinbase to unknown wallet.
Using data from the crypto analytics firm Glassnode, Moskovski Capital CEO Lex Moskovski says whales now have as much BTC as they did before the dramatic crypto market sell-off began in May.
“Bitcoin supply held by whales (1k-10k wallets) has erased the whole Tesla/China sell-off and are back to the levels of $57k BTC. Whales are unironically accumulating.”Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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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/Kirk Wester