Crypto Whale Suddenly Moves Over $500,000,000 Worth of Bitcoin in a Single Transaction – Here’s Where the BTC Is Going

A crypto whale abruptly moved just over half a billion dollars worth of Bitcoin and paid less than a dollar in transfer fees.

The deep-pocketed investor sent 10,836 BTC worth a staggering $506 million in a single transaction to an unknown wallet on Saturday, according to whale-surveilling bot Whale Alert.

The address that initiated the transfer was the 70th-largest BTC wallet prior to the transaction, according to BitInfoCharts. Data shows that the wallet was created on December 4th and accumulated 9,330 BTC ($493 million) on the same day while collecting 1,507 BTC, worth $73 million, six days later.

The receiving wallet, which was created on the day of the transfer, immediately became the 68th-wealthiest Bitcoin whale in existence.

The crypto investor just paid 0.00001704 BTC worth $0.79 in transaction fees.

The move comes as crypto whales are sending hundreds of millions of dollars worth of stablecoin Tether (USDT) to different cryptocurrency exchange platforms while the king crypto continues to trade under the $50,000 mark.

Here’s a breakdown of the largest USDT transactions into crypto exchange platforms during the last two days:

• 50,898,498 USDT worth $50.89 million sent from an unknown wallet to Binance.
• 20,000,000 USDT worth $20 million sent from an unknown wallet to Kucoin.
• 40,976,545 USDT worth $40.97 million sent from an unknown wallet to Binance.
• 30,000,000 USDT worth $30 million sent from an unknown wallet to OKEx.
• 40,000,000 USDT worth $40 million sent from an unknown wallet to Kucoin.
• 26,446,319 USDT worth about $26.44 million sent from an unknown wallet to Binance.

BTC is exchanging hands at $47,211 as of writing, an 6.5% decrease from its seven-day high of $50,510 and a 21% drop from its 30-day peak of $59,679.

 

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 losses 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/Tithi Luadthong