According to Whale Alert, the sharp market correction coincided with an increase in activity from crypto whales, moving over half a billion dollars in stablecoins in just a few hours.

When Bitcoin started cracking $ 50,000 on Saturday around 8:30 a.m., hundreds of millions of dollars in crypto began to migrate between exchanges and wallets.

Whale Alert marked one of the largest stablecoin transfers of the past day when a wealthy investor transferred USDT worth $ 116.68 million from the Binance exchange to an unknown wallet.

116.685.032 #USDT ($ 116,685,032) transferred from #Binance in unknown wallethttps://t.co/yb9chn715r

– Whale alert (@whale_alert) December 4, 2021

Also of interest is another transaction from another whale on Binance for USDT 118.87 million that was moved to an unknown wallet.

118.878.502 #USDT ($ 118,878,502) transferred from #Binance in unknown wallethttps://t.co/wVYeGouykA

– Whale alert (@whale_alert) December 4, 2021

Other major transfers discovered during the crypto market crash are:

Whale Alert has also noticed a large bitcoin transfer. The company transferred 15,074 BTC worth $ 720.62 million between wallets of unknown origin.

15,074 #BTC (720,620,662 USD) transferred from unknown wallet to unknown wallethttps://t.co/0GS0Gkrxf0

– Whale alert (@whale_alert) December 4, 2021

The whale activity came amid one of the biggest crypto market crises in recent times. According to Coinglass, about $ 2.5 billion has been liquidated in the past 24 hours.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Follow the Youtube Channel | Subscribe to telegram channel | Follow Facebook page