As Bitcoin whales accumulate large amounts of BTC, one holder just cleared out over $1.5 billion worth of the leading crypto asset from a single wallet.
Blockchain.com confirms the October 4th transaction which relocated a whopping 31,306 BTC, valued at $1,500,784,730 at the time.
Crypto analytics firm Santiment says whale traders recently accumulated the largest single-day amount of BTC in over two years. The whales in question also did not sell, which Santiment believes helped Bitcoin push back above $51,000.
“Bitcoin’s whale traders holding between 100 to 10,000 $BTC accumulated 70k $BTC 10 days ago, the largest day of accumulation for this group since July, 2019.
Unsurprisingly, prices gradually returned to above $51k as whales show no sign of a dump yet.”
Bitcoin has surged to $54,817 at time of writing, according to Coingecko, which is a 14% increase since the October 4th whale transaction, with a current value over $1.7 billion.
Here’s a look at the original empty wallet.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
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/Oliver Denker