A Bitcoin whale is transferring hundreds of millions of dollars worth of BTC in the midst of a correction that’s impacting the broader crypto markets.
According to blockchain tracker Whale Alert, the massive crypto holder moved exactly 10,000 BTC from multiple wallet addresses coming from Bitcoin-custodial firm Xapo to the global crypto exchange Binance. At the time of the transfer, the Bitcoin stash was worth nearly $608.8 million.
? ? ? ? ? ? ? ? ? ? 10,000 #BTC (608,797,100 USD) transferred from #Xapo to #Binancehttps://t.co/aLlyGU2YTS
— Whale Alert (@whale_alert) November 18, 2021
The large Bitcoin whale paid 0.00005752 BTC, worth $3.37 at time of writing, in transaction fees for the transfer. Bitcoin is currently exchanging hands at $58,612.
Whale Alert is also reporting other large Bitcoin transactions in the last 48 hours amid the crypto market pullback. Three transactions involve whales moving hundreds of millions of dollars worth of Bitcoin between crypto exchanges.
In two transactions, whales withdrew nearly $250 million worth of Bitcoin from Coinbase. Other transactions saw whales moving BTC between Xapo and crypto exchanges.
Here’s the summary of some of the whale transactions in the last two days:
- 1,000 Bitcoin worth $61 million transferred from Binance to crypto exchange Coinbase
- 1,000 Bitcoin worth $61 million transferred from Binance to crypto exchange Bitstamp
- 2,000 Bitcoin worth $122 million transferred from Binance to Coinbase
- 2,288 Bitcoin worth $135.95 million transferred from Coinbase to unknown wallet
- 1,000 Bitcoin worth $59 million transferred from wallet of unknown origin to Coinbase
- 2,000 Bitcoin worth $114.76 million transferred from Coinbase to unknown wallet
- 2,000 Bitcoin worth $114.80 million transferred from Binance to Xapo
- 2,092 Bitcoin worth $121 million transferred from Binance to Xapo
- 3,006 Bitcoin worth $171.42 million transferred from Xapo to Binance
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Featured Image: Shutterstock/Tithi Luadthong/Natalia Siiatovskaia