Connect with us
nairametrics

Cryptocurrency

A billion dollar worth of Bitcoin moved by unknown identity

Unknown person(s) has moved 63,500 BTC worth about $969 million in block 655,974.

Published

on

3 BTC whales move 140 million worth of Bitcoins from Binance

Bitcoins reportedly worth close to a billion dollar has been moved by an unknown person.

This information was made known by Bitcoin Block Bot via it’s Twitter handle as it tweeted, “Whale alert! Whale someone moved 63,500 BTC ($969M) in block 655,974 a few minutes ago”

READ: Crypto deal: Google joins EOS community

Bitcoin whales are definitely having the limelight in the fast-changing financial market amid the prevailing price seen at the world’s flagship crypto.

READ: BTC whales on the rise, as COVID-19 changes Bitcoin’s status quo

GTBank 728 x 90

Explore Data on the Nairametrics Research Website

At the time of writing this report, Bitcoin was trading at $15,239.39 with a daily trading volume of $30,058,250,226. BTC price is down -1.7% in the last 24 hours. It has a circulating supply of 19 million coins and a max supply of 21 million coins.

Coronation ads

READ: Large BTC entity transfers over $100 million worth of Crypto

This is also coming on the latest benchmark showing the number of wallets containing above 100 Bitcoins, hit an all-time high today.

  • Bitcoin $BTC Number of Addresses Holding 100+ coins just reached a 7-month high of 16,271
  • The previous 7-month high of 16,270 was observed earlier today

READ: Winklevoss brothers become crypto billionaires

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment Trading. Featured Financial Market Analysis for a Fortune Global 500 Company. Member of the Chartered Financial Analyst Society. Follow Olumide on Twitter @tokunboadesina or email [email protected]

4 Comments

4 Comments

  1. Anonymous

    November 8, 2020 at 7:19 pm

    old news.. the whale is the dipartment of justice of USA, related to silk road market operation

  2. The wind

    November 9, 2020 at 10:51 am

    The same people who owns the bitcoins are the ones who withdrew it, but was done quietly not to attract attention.

  3. Aisha

    November 10, 2020 at 3:26 am

    I intended Togo this bitcoin businesses, but now I scare of not security as happened

  4. MORONFOLU SUNDAY

    November 10, 2020 at 3:40 pm

    Is like I’m interested in doing this investment? Kindly revert to me.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Cryptocurrency

Pigs on a rampage, Bitcoin drops $2,000

Bitcoin prices plunged by more than 15%, approaching the $17,000 level.

Published

on

Pigs on a rampage, Bitcoin drops $2,000, 6 features to look out for in a Cryptocurrency, Cryptocurrency: Discern investors’ goldmine 

It appears the bulls driving Bitcoin upward lately have momentarily gone out of steam. Bitcoin prices plunged by more than 15%, approaching the $17,000 level, after reaching as high as $19,580, owing to heavy losses as large investors cash in on some of their Bitcoin holdings.

READ: Why Bitcoin suddenly lost $1,000

  • The crypto lost $2,000 in a matter of few hours, falling around $17,000 before it sprang up back to the $17,900 price level.
  • Taking into consideration that most bitcoin wallets are in profit, unsurprisingly, some investors are already cashing out some of their gains amid the end of a turbulent 2020.
  • That said, its recent price action shows its tilting towards an overbought position.

READ: Dangote cement post a 52-week high, investors gain N224 Billion

At the time of writing, Bitcoin price was $17,890.84 with a 24-hour trading volume of $33,259,413,581.

The Head of the blockchain intelligence platform further anticipated the likelihood for Bitcoin to go through a period of correction, as more investors deposit their BTC on Coinbase.

GTBank 728 x 90

READ: President Trump’s action triggers Ethereum plunge

Too many BTC whales on Coinbase. I’m still long-term bullish, but we might face some corrections or sideways until whales become inactive on spot exchanges.”

READ: NBS hits back at Prof Hanke, says Nigeria’s inflation is not 33%

Coronation ads

Should you buy it?

Although it’s more likely that some Bitcoin whales increase their purchases when prices drop to these levels, Nairametrics, envisages cautious buying, as the volatility in this fast-changing market, could lead to a significant loss of capital.

However, if things get really terrible, Nairametrics believes this could be another chance to buy bitcoin below $15,000.

READ: $66.5 billion worth of Bitcoin lost forever

What you should know

Jaiz bank ads

Recall Nairametrics exclusively broke the news on how a crypto strategist, Ki-Young Ju, recently warned on the high influx of big-time Bitcoin holders moving a significant portion of their BTC holdings to a well-known crypto exchange, Coinbase, obviously to cash out, amid the bullish trend currently in play.

Stanbic IBTC

Continue Reading

Cryptocurrency

Ethereum cools off, drops 10%

Ethereum has recently dropped more than 10% after reaching above $600.

Published

on

Number of contract calls on Ethereum rises by 300%

Crypto bears have taken a brief hold on the second most valuable crypto by market value. Ethereum dropped more than 10% after reaching above $600 some hours ago.

  • At the time of writing this report, it traded at $553.53 with a daily trading volume of $16,372,458,478.
  • It has a circulating supply of 110 million coins and a max supply of ∞ coins.
  • It wasn’t all bad news for Ethereum stakeholders, as the number of Ethereum Non-zero Addresses just reached an ATH of 49,977,938.
  • Previous ATH of 49,974,788 was observed earlier today, showing that buying interest in the ever-changing crypto market might just be a temporary pullback.

READ: U.S top regulator speaks on Cryptos and future of banking to U.S Congress

What you should know

Ethereum is a global, open-source platform for decentralized applications. In other words, the vision is to create a world computer that anyone can build applications with, in a decentralized manner, while all states and data are distributed and publicly accessible.

GTBank 728 x 90

READ: FIRS rakes in N4.178 trillion revenue, achieves 98.6% of revenue target

The native currency that flows within the Ethereum economy is called Ether (ETH), which is typically used to pay for transaction fees and also the base currency of the network.

On Ethereum, all transactions and smart contract executions require a small fee to be paid, which is called Gas. In technical terms, Gas refers to the unit of measure on the amount of computational effort required to execute an operation or a smart contract.

Coronation ads

READ: Africa’s internet economy has the potential to reach 5.2% of the continent’s GDP by 2025 – Goggle/IFC

What they are saying

ETH sellers should be cautious of a reversal, on the bias that the world’s biggest crypto hedge fund, Grayscale, revealed huge buying interests prevailing at the Ethereum market.

On its Twitter feed, it said: “It’s become clear there’s a strong demand for Ethereum investment products. In our 3Q20 investment report, we saw the largest investment into Grayscale Ethereum Trust ever, with over $202 million in quarterly inflows.”

READ: THORchain, most profitable crypto in the last 24 hours

Jaiz bank ads

Explore Data on the Nairametrics Research Website

Stanbic IBTC

Continue Reading

Cryptocurrency

Ripple’s big players move XRP worth over $50 million

Rich Ripple players seem to be upping their game in Q4, 2020, as regards moving XRP.

Published

on

ripple cryptocurrency, XRP

Rich Ripple players seem to be upping their game in Q4, 2020, as regards moving XRP – the third most valuable crypto by market value, as lately seen by Nairametrics.

Large investors have increased the pace at which such huge transfers are made, as seen via Whale Alert, with over $50 million worth of XRP in more than 5 transactions transferred within the last 12 hours — hinting that there might be more than meets the eyes.

READ: BTC scammer steals 1,400 BTCs worth $16 million

The two most recent transactions include,

  • 20,000,000 XRP (12,591,740 USD) transferred from Unknown wallet to Bitstamp
  • 10,000,000 XRP (6,814,748 USD) transferred from Uphold to unknown wallet

READ: Ethereum robber transfers $1.5 million worth of Crypto

GTBank 728 x 90

That said, many crypto experts anticipate the movement of such cryptos are coming from major stakeholders of Ripple, on the bias some of these wallets contain a significant amount of XRP.

XRP price has jumped by more than 100% since last week, leaving behind the top two cryptocurrencies, Bitcoin and Ethereum in price gain.

READ: Nigeria to generate $6 billion through Blockchain by 2030-NITDA

Coronation ads

What you should know

  • Ripple (XRP) plays dual roles, as a payment platform and a currency. The platform is an open-source platform that is created to allow quick and cheap transactions.
  • Unlike its crypto rival, Bitcoin, which was never intended to be a simple payment system, Ripple has gained the attention of major global banks, such as Standard Chartered and Barclays for international transactions worldwide.

READ: Covid-19: Nigeria to seek $750 million from World Bank- Finance Minister

What they are saying

Economic Historian, Barry Eichengreen, recently explained that cryptos should not just be considered for speculative reasons, as leading crypto assets have shown characteristics of being tangible assets.

Barry went on to explain why cryptos have become the new digital gold, “Gold doesn’t really have any intrinsic value. People [believe] it will hold its value because other people value it. There is, from that point-of-view, a parallel with cryptocurrencies. People pay actual U.S. dollars for it, because they think other people will value it and pay actual U.S. dollars for it.”

Jaiz bank ads

READ: Tesla’s market value bigger than any African country

Stanbic IBTC

Continue Reading