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

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