Whales Abruptly Shuffle Nearly $1,740,000,000 in Bitcoin and Ethereum As Traders Hold Their Breath

Whales moved nearly $1.74 billion worth of Bitcoin (BTC) and Ethereum (ETH) across 14 transactions in the wake of the crypto market’s sizeable correction over the weekend.

In the largest transaction, an unknown wallet sent 15,073.45 BTC worth a whopping $737.4 million to a second unknown wallet on Sunday, according to the crypto tracker Whale Alert.

The Bitcoin was then moved seven more times before it reached its final destination. That eighth and final receiving wallet is currently the 51st richest Bitcoin address in the world, according to BitInfoCharts.

In another large transaction, a deep-pocketed crypto investor shifted 10,000 BTC worth over $482 million from global crypto exchange Binance to a wallet of unknown origin.

Other large Bitcoin transactions in the last 48 hours involve the relocation of BTC between a crypto exchange and wallets of unknown origin. One transfer moved Bitcoin from an unknown wallet to a crypto custodial firm.

Here’s the summary of the BTC movements that happened on Sunday and Monday:

• 2,030 BTC worth more than $99.30 million sent from an unknown wallet to Xapo
• 922.44 BTC worth more than $45.44 million sent from an unknown wallet to Coinbase
• 2,713.89 BTC worth more than $132 million sent from Coinbase to an unknown wallet

Ethereum whales have also come to life as the crypto markets reel from the pullback. Over the last two days, eight transactions account for the shifting of tens of thousands of ETH from crypto exchanges to unknown wallets. One transfer saw Ethereum move from a wallet of unknown origin to a crypto exchange.

Here’s a quick rundown of the largest ETH transactions in the past two days:

• 11,999.99 ETH worth nearly $50.60 million sent from Binance to an unknown wallet
• 2,493 ETH worth more than $10.38 million sent from OKEx to an unknown wallet
• 3,000 ETH worth more than $12.57 million sent from Gemini to an unknown wallet
• 2,489 ETH worth more than $10.25 million sent from OKEx to an unknown wallet
• 3,489 ETH worth more than $14.49 million sent from OKEx to an unknown wallet
• 3,121 ETH worth more than $12.95 million sent from Huobi to an unknown wallet
• 4,000 ETH worth more than $16.37 million sent from an unknown wallet to Binance
• 24,000 ETH worth more than $100.29 million sent from Gemini to an unknown wallet
• 3,500 ETH worth more than $14.61 million sent from Gemini to an unknown wallet

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