A massive Bitcoin whale is capturing the attention of crypto sleuths after moving over a billion dollars worth of BTC.
One of the richest whales in existence relocated 30,406 BTC worth $1.1 billion for a fee of just $11.88.
The transaction was first reported by the automated distributed ledger monitoring tool known as the Bitcoin Block Bot.
According to the latest block explorer data, the high-rolling crypto entity shifted the BTC to two wallets. The first wallet with a total of 34 transactions collected 2,000 BTC. A second wallet with a total of two transactions received 28,406 BTC.
BitInfoCharts shows that the high-rolling crypto whale first created the sending wallet on December 31st, 2020. The wallet in question received a huge trove of BTC on the same day and became the 23rd wealthiest wallet on record on January 29th, 2021.
The whale never moved more than $1 worth of BTC until it drained the address this week.
None of the Bitcoin involved has been sent to any known crypto exchanges, where it could potentially be sold and traded on the open market.
Crypto analytics platform Glassnode is also keeping a close watch on whale activity. In a new tweet, the firm says the number of large BTC whales has been on a strong uptrend since the Bitcoin bull market kicked off in October 2020.
“The number of Bitcoin whales (entities holding ≥ 1k BTC) has seen an astounding increase.
Since the beginning of the year, more than 200 new whale entities have appeared in the network – data supporting the case that institutions are arriving.”
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