A handful of crypto whales moved a staggering $2.74 billion in Bitcoin (BTC) within a matter of 14 minutes.
The large crypto transfers were initially detected by blockchain tracker and analytics tool Whale Alert.
Whale Alert first noted at 11:40 p.m. PDT on July 27th that an unknown wallet transferred roughly 9,977 BTC, valued at over $399 million, to another unknown wallet.
? ? ? ? ? ? ? ? ? ? 9,977 #BTC (399,349,419 USD) transferred from unknown wallet to unknown wallethttps://t.co/k5xUeZE4yt
— Whale Alert (@whale_alert) July 28, 2021
That same minute, a separate and third unknown wallet transferred about 9,953 BTC, worth more than $398 million, to a fourth unknown wallet. Simultaneously, a fifth unknown wallet transferred about 9,773 BTC, worth more than $391 million, to yet another wallet.
Nine minutes later, that sixth unknown wallet sent about 9,753 BTC, worth nearly $385 million, to a seventh unknown wallet.
Simultaneously, the fourth unknown wallet, which had just received more than $398 million in BTC nine minutes earlier, transferred 9,935.6 BTC, worth more than $392 million, to an eighth unknown wallet.
Six minutes later, that eighth unknown wallet sent 9,929.342 BTC, worth about $393.7 million, to a ninth unknown wallet.
And at the exact same time, the seventh unknown wallet, which had just received nearly $385 million worth of BTC six minutes earlier, sent 9,736.6875 BTC, worth more than $386 million, to a final 10th unknown wallet.
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. This suggests the transfers are either individuals or institutions moving funds for security purposes or to facilitate a direct, over-the-counter sale.
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