One of the world’s largest Bitcoin holders just relocated thousands of BTC as the crypto markets witness another sell-off event.
The transaction-tracking Whale Alert tells its 2.2 million Twitter followers that one whale sent 5,000 BTC worth $107.98 million from crypto exchange Binance to US-based digital asset exchange Coinbase.
Whale Alert also highlights a half dozen other transactions accounting for 13,107 BTC worth over $293 million flying around the blockchain amid the crypto market correction:
- 3,138 BTC worth $73.65 million transferred from Coinbase to an unknown wallet.
- 1,824 BTC worth $42.22 million transferred from an unknown wallet to Coinbase.
- 1,894 BTC worth $43.42 million transferred from an unknown wallet to Coinbase.
- 3,106 BTC worth $66.25 million transferred from a Xapo wallet to Coinbase.
- 1,538 BTC worth $33.39 million transferred from Coinbase to an unknown wallet.
- 1,607 BTC worth $34.32 million transferred from Coinbase to Binance.
At time of writing, Bitcoin continues a downtrend dating back to Sunday, having dropped from a peak near $25,000 to capitulating the $21,000 level late on Friday. BTC is currently down 7.31% and priced at $21,196.
Crypto analytics firm Santiment recently observed that the number of wallets that hold between 100 and 10,000 Bitcoin has increased to the highest level since June.
“The amount of Bitcoin addresses holding between 100 to 10,000 BTC ($2.3 million to $233 million) has reached its largest quantity since June 11th. We look to this tier of large addresses as confidence from large active holders, and this increase is encouraging.”
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