A significant number of wealthy investors have increased their transactional volume lately in Bitcoin’s market amid rising price volatility in the ever-changing crypto-verse.
Data obtained from Whale Alert, a crypto analytic tracker, revealed that an unknown BTC whale transferred 7,215 BTC (342,066,420 USD) from an unknown wallet to another unknown wallet, some hours ago.
? ? ? ? ? ? ? ? ? ? 7,215 #BTC (342,066,420 USD) transferred from unknown wallet to unknown wallet
— Whale Alert (@whale_alert) March 2, 2021
Active crypto-traders and powerful investors seem to now be using the flagship crypto asset of late as a form of treasury asset. Though it’s often challenging to anticipate market movements in the ever-changing crypto market, Bitcoin whales have shown historically that they often determine the BTC trend.
At the time of writing this report, the flagship crypto traded at $47,834.54 on the FTX exchange with a daily trading volume of $47 billion. Bitcoin is down 1.81% for the day.
However, it’s important to note that the market liquidity is tightening at the flagship crypto market, as there are less than 4 million BTCs in circulation available for upcoming investors including the likes of Grayscale, Paypal, and hedge funds.
Recent reports reveal that MicroStrategy Inc. recently bought more Bitcoin to raise the enterprise-software firm’s holdings to more than $4.3 billion.
- It’s critical to note that just 21 million Bitcoins are ever going to be produced in total, and presently, there are about 18.9 million Bitcoins in circulation.
- This shows a differential of about 2.1 million Bitcoins left to be produced, not forgetting about 4.5 million Bitcoin that have already been lost forever.