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$1,500,000,000 Bitcoin Whale Transaction Makes Waves As Huge Crypto Holders Stockpile BTC

by Daily Hodl Staff
October 6, 2021
in Bitcoin

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.”

Image
Source: Santiment/Twitter

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.

Image
Source: bitinfocharts.com
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