Bitcoin Whale Abruptly Moves Over $600,000,000 in BTC

Bitcoin, the most valuable cryptocurrency by market cap, is being moved by a single crypto whale worth over $600,000,000. (BTC).

According to blockchain tracker Whale Alert, the wallet shifted 14,712 BTC worth $611,795,643 for a cost of 0.0000166 BTC, or less than $1, on April 21st.

Following the transfer, the large sum was sent to a number of different addresses until finally landing in an unknown wallet with only one transaction record on the blockchain.

This week, the whale tracker reveals large Bitcoin moves involving Coinbase, a leading US crypto exchange, and Xapo, a Gibraltar-based digital asset storage company.

Coinbase sent a total of $330,390,292 in BTC in two transactions and got a total of $119,515,471 in BTC from unknown wallets in two transfers.

Xapo transferred $46,171,989 in Bitcoin to an unidentified wallet

The massive transfers occur at a time when the price of BTC is hovering around $40,000. Whales are presently in an accumulating phase, according to popular on-chain analyst Will Clemente, who has 617,300 Twitter followers.

“BTC whales have been gathering for more than a month.”

Bitcoin is trading for $40,480 at time of writing, down 2.65% on the day but up 1.18% on the week. The leading crypto asset by market cap is down 4.4% on the month.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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