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Cryptocurrency

Crypto millionaire carts away with $224 million worth of Bitcoin

An anonymous person recently moved 13,912 BTC, estimated to be worth about $224M.

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Crypto millionaire carts away with $224 million worth of Bitcoin, Whales transfer Bitcoins at an alarming rate, BTC whale moves 10,250 BTC valued at $95,000,000

Rich investors are moving their transactional size of cryptos at a pace not seen in recent times, amid the world’s most popular crypto trading above $16,400.

Data obtained from Bitcoin Block Bot – a crypto analytic tracker, revealed that an anonymous person moved 13,912 BTC, estimated to be worth about ($224M) some hours ago.

  • At the timing of writing this report, Bitcoin traded at $16,430.34 with a 24-hour trading volume of $28,855,913,565.
  • BTC price is up 5.1% in the last 24 hours. It has a circulating supply of 19 Million coins and a max supply of 21 Million coins.

READ: Why Bitcoin will still drop

READ: Leaked memo: CBN instructs banks to block bank account of 38 companies for “forex abuse”

What this means

Global investors and crypto-traders are now increasing their buying pressure, on this digital gold on the bias that institutional players have increased their buying pressure amid PayPal offering such services to millions of its clients, and not forgetting the crypto market is awash with cheap money coming from stimulus packages from global central banks and global inflation hitting a record high.

While it is difficult to predict market movements, BTC whales have shown historically that they often determine the BTC trend.

READ: CRR: Banks suffer N917.5 billion debits in latest CBN action

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What you should know

  • At the BTC market, investors or traders who own large amounts of bitcoins are typically known as Bitcoin whales.
  • This means that a BTC whale would be an individual or business entity (with a single Bitcoin address) that owns around 1000 coins or more.
  • As BTC whales accumulate BTCs, Bitcoin’s circulating supply reduces, and this can weaken any bearish trend bitcoin finds itself in.
  • Meaning that over time, it’s possible that as BTC approaches its fixed supply of 21 million, the price of BTC will go up, with BTC’s present demand factored in.

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

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Message Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

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    Cryptocurrency

    XRP surges by 150% in 7 days as Ripple posts early victories against SEC

    This surge has pushed the fast-rising crypto into the top 5 cryptos by market value, behind only Bitcoin, Ethereum and Binance Coin.

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    XRP, Ripple's co-founder earned $411 million from selling XRP in 2020

    Amid the strong bullish rally at play in the cryptoverse, Ripple’s XRP looks to be leading the way with a push as it almost triples in value following a series of legal victories and social media rumours of relisting at some crypto exchanges like Coinbase.

    This surge has pushed the fast-rising crypto into the top 5 cryptos by market value, behind only Bitcoin, Ethereum and Binance Coin.

    At the time of writing this report, XRP traded at $1.47 with a daily trading volume of $29.3 billion. XRP is up 147% for the week with a current market value of about $67 billion.

    READ: Why this unknown crypto with over 600% gain in 3 months, might still explode

    The surge in this crypto asset is coming amid a lawsuit from the SEC which accused XRP’s $1.3 billion initial coin offering of being an “unregistered securities offering.” The allegation led most American crypto multiple exchanges to delist the crypto and XRP lost its place as the 3rd largest crypto by market value.

    That being said, crypto traders appear to be backing the crypto asset amid credible reports suggesting that Ripple lawyers have posted two victories in their legal tussle against the powerful American regulator, including gaining access to internal Securities Exchange Commission discussion history regarding crypto assets.

    READ: XRP stands firm, investors wait on Ripple’s legal outcome

    What this means

    Such access by Ripple’s lawyers to these records would offer them insights into why the Securities Exchange Commission has not deemed Bitcoin and Ethereum a security asset.

    Sigma Pensions

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    Cryptocurrency

    Crypto market surges above $2 trillion, as Bitcoin stages a huge comeback above $60,500

    The global crypto market value at press time stood at $2.05 trillion, a 3.85% increase over the last day.

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    The flagship crypto is recording a significant buying spree as Bitcoin bounced above the $60,500 price level once again.

    The global crypto market value at press time stood at $2.05 trillion, a 3.85% increase over the last day, with Bitcoin having a market value of $1.123 trillion and a circulating supply of 18,678,481 BTCs

    Bitcoin’s price is currently $60,638.55.

    READ: Bitcoin miners are consistently earning $50 million daily

    Bitcoin’s dominance is currently 55.36%, an increase of 0.21% over the day.

    Investors are moving their funds to Bitcoin after an avalanche of COVID-19 stimulus shocked the crypto market since last year amid fears of rising fiat inflated currencies coupled with leading business brands adding more buying pressures on Bitcoin with BNY Mellon, America’s oldest bank giving its approval on the new digital gold as it makes a debut into mainstream investment assets.

    Consequently, MicroStrategy now has 91,579 BTCs worth about $5.54 billion while Tesla holds 32,608 BTCs, hinting that more global business brands may take such route to hold the most popular crypto as a treasury tool amid concerns that just 21 million BTCs will ever exist with about 4 million BTCs already lost forever.

    READ: Less than 4 million Bitcoins available for buying

    Sigma Pensions

    Recent price action suggests that bitcoin bulls are holding on tight as they built strong support around the $58K area.

    READ: XRP posts a big bang, as legal tussle with SEC lingers

    That being said, crypto pundits argue that bitcoin still faces strong headwinds in the coming months amid growing regulatory concerns. There is also the bias that its high volatility is making it challenging for some traditional investors to come on board and its massive electrical consumption via the blockchain has also put it at odds with many environmentalists.

    Stanbic 728 x 90

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