Half a Billion Dollars in Bitcoin (BTC) Suddenly on the Move As Leading Crypto Consolidates at $8,800

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Bitcoin whales are on the move as the price of the leading cryptocurrency consolidates around $8,800.

In the last 24 hours, some of the biggest Bitcoin holders on the ledger moved 57,421 BTC worth about $502.6 million.

Most of the BTC was moved between wallets of unknown origin. One of the transfers sent 1,487 BTC to the crypto exchange OKEx, indicating a trader may be looking to sell some of their funds on the open market.

Here’s a look at seven of the largest transfers in the last day, totaling 41,367 BTC worth $362.6 million.

• 9,757 BTC worth $85.6 million transferred from unknown wallet to unknown wallet
• 9,866 BTC worth $86.5 million transferred from unknown wallet to unknown wallet
• 2,600 BTC worth $22.6 million transferred from Coincheck to unknown wallet
• 1,600 BTC worth $13.9 million transferred from Coincheck to unknown wallet
• 9,974 BTC worth $87.4 million transferred from unknown wallet to unknown wallet
• 6,083 BTC worth $53.5 million transferred from unknown wallet to unknown wallet
• 1,487 BTC worth $13.1 million transferred from unknown wallet to OKEx

In addition, the crypto custody giant Xapo, which was recently acquired by Coinbase, has been identified by Whale Alert as the entity behind four massive transactions.

The company, which holds huge amounts of crypto in cold storage for institutional clients, moved 16,054 BTC worth $140.0 million.

• 5,000 BTC worth $43.3 million transferred from unknown wallet to Xapo
• 1,198 BTC worth $10.3 million transferred from unknown wallet to Xapo
• 1,000 BTC worth $8.6 million transferred from unknown wallet to Xapo
• 8,856 BTC worth $77.8 million transferred from Xapo to unknown wallet

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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 loses 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.