Third big whale busy buying bitcoin collapses during market downturn

The third largest Bitcoin wallet has been busy buying dips for the past two days. During the current market downturn, this whale company added nearly 500 BTC to its vault.

The mysterious third largest whale bought 490 BTC at a bitcoin price of around $ 46,800 in a $ 23 million transaction. The transaction took place on September 8th at 00:05 GMT and the coins were transferred from the Coinbase exchange, reports WhaleAlert.

The source: Whale alert

At press time, whales hold over 4,000 BTC at a time when the price was at an all-time high of $ 65,000, bringing the total value to $ 5 billion.

At the end of August, the company also accumulated more bitcoins through two purchases. One of them is 466 BTC at $ 47,400. Another was on Aug 26 with a modest transaction of 38 BTC, or about $ 23 million at current prices. All transactions are made through the Coinbase wallet.

The source: Twitter

The turnaround comes after the bloodbath that the crypto market experienced two days ago – the same day El Salvador officially became the first country in the world to make Bitcoin legal tender.

Unfortunately, the market has lost more than $ 500 billion in total capitalization, making it one of its worst days since May 19th.

Altcoins are also following a similar path, with the top ten collapsing across the board with the exception of Solana (SOL) and maintaining the weekly plus despite the sell-off.

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Annie

According to Cryptopotato

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