Crypto whales are suddenly on the move, relocating over half a billion dollars worth of Bitcoin (BTC) as the crypto king attempts to mount a recovery rally.
Blockchain-monitoring service Whale Alert initially reported the large Bitcoin transactions to the tune of 20,470 BTC worth over $526 million.
The largest Bitcoin transaction in the past day involves a deep-pocketed investor shifting 10,205 BTC worth $261.32 million from a wallet of unknown origin to another wallet of unknown origin.
? ? ? ? ? ? ? ? ? ? 10,205 #BTC (261,322,181 USD) transferred from unknown wallet to unknown new wallethttps://t.co/4q5sM5gcy6
— Whale Alert (@whale_alert) June 16, 2023
According to Whale Alert, the massive Bitcoin whale paid just $35.73 to move the large BTC trove.
In a separate transaction, a crypto whale shifted 3,912 BTC worth $101 million between unknown wallets. The large entity paid about $50 to process the multi-million-dollar transfer.
Whale Alert also witnessed the transfer of 3,190 BTC worth $81.54 million from the crypto exchange Kraken to a wallet of unknown origin. The crypto whale shelled out just $74.62 to relocate the BTC stack.
In another transaction, a whale moved 2,264 BTC worth $59.62 million from a wallet of unknown origin to the crypto exchange Coinbase, where the Bitcoin could potentially be sold on the open market. The deep-pocketed investor spent $131.67 to send the crypto to Coinbase.
Meanwhile, a large Bitcoin investor paid less than $20 to shift 899 BTC worth $23 million from the crypto exchange Binance to an unknown wallet.
The large Bitcoin transactions come as BTC bounced from its weekly low of $24,864 to a high of $26,676, an over 7% increase.
The crypto king has slightly retraced since and is trading for $26,599 at time of writing,
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