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Cryptocurrency

Wealthy Crypto entity moves over $100 million worth of Bitcoin

Someone moved 7,002 BTC valued at (112,904,407 USD) from an unknown wallet to unknown wallet.

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3 BTC whales move 140 million worth of Bitcoins from Binance

Wealthy crypto players seem to be at their game in Q4, 2020, as regards moving Bitcoin.

Data retrieved from the advanced crypto tracker, Whale Alert, revealed someone moved 7,002 BTC valued at (112,904,407 USD) from Unknown wallet to Unknown wallet.

READ: Online event developer, Hopin valued at $2 billion

  • At the time of drafting this report, Bitcoin was trading slightly above $16,000, with daily trading volume pegged at $18,472,207,777.
  • BTC price is up 0.3% in the last 24 hours. It has a circulating supply of 19 Million coins and a max supply of 21 Million coins.

READ: 2 TRON whales transfer over 120,000,000 TRX

READ: Ripple lets go 1,000,000,000 XRP valued at $240 million

What this means

Crypto investors are going long, stashing their digital gold at record levels, as the crypto market is awash with cheap money coming from stimulus packages from global central banks.

READ: Crypto: Alpha Finance gains 400% in 10 days, supported by a big bank

What you should know

Nairametrics some months ago, reported that 47% of BTC holders were Bitcoin (BTC) whales. As the COVID-19 pandemic resurgence disrupted the global financial market – coupled with the recent weakening of the American dollar, the number of whales has been increasing at a steady pace after Bitcoin’s recent halving.

READ: Crypto traders transfer USDT 100,000,000

READ: ChainLink’s digital coin skyrockets 388% in 130 days, still soaring

  • While it is difficult to predict market movements, BTC whales have shown historically that they often determine the BTC trend.
  • At the BTC market, investors or traders who own large amounts of BTCs are typically known as Bitcoin whales.
  • This means that a BTC whale could be an individual or business entity (with a single Bitcoin address) owning around 1000 Bitcoins or more.

READ: Two strange Bitcoin whales transfer $290 million worth of Crypto

bitcoin train

Binance

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

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