- A crypto whale in the market recently made a transfer of more than $80 million in Bitcoins to Coinbase. So, the transfer was from an unknown wallet.
- Despite this massive transaction, there’s no adverse effect on BTC.
Bitcoin is growing at a very slow, consistent pace in the crypto market. So, there was a scare of a decline after a Bitcoin whale made a massive transaction. Here are the details.
Bitcoin Whale Moves $80 Million BTC to Coinbase
- A Bitcoin whale recently made a massive transaction involving the apex cryptocurrency. So, this transaction holds enormous significance due to the amount of money in the transaction. A popular Twitter (now X) account called Whale Alert provided this transaction’s details. So, according to their data, this Bitcoin whale made the transaction from an unknown wallet to Coinbase. This means that the whale was likely going to sell the BTC token. So, the deduction comes from the fact that crypto whales don’t store their tokens in exchanges.
- The amount of Bitcoin in this transaction was about 2,925 BTC tokens. So, the total worth of the tokens when this whale made the transaction was around 80,258,506 USD. Going into more details, the occurrence of this transaction was around Tue, 19 Sep 2023, 15:33:54 UTC. So, the amount of gas fees paid by the Bitcoin whale for this transaction was around 0.005 BTC (137.14 USD).
- This Bitcoin whale made the transfer from the sending wallet to the receiving wallet three times. So, the sending wallet address was 13c…q9e. The receiving wallet address was 3Mq…XFd.
After Bitcoin Whale Sales, General Market Analysis For BTC
- After the current sale from the Bitcoin whale, it is very important to highlight the current market situation of BTC. So, the market is currently getting better for the apex cryptocurrency. It is building a rock-solid price foundation standing the test of time. So, over the past few weeks, Bitcoin price stayed within the $26k level. Despite all the bad situations in the market, there was maintenance of that position. Then, there was a climb to $27k. So, in simple terms, Bitcoin is having a slow but steady growth in price.
- There’s no limitation of Bitcoin’s growth to the price. So, we recently made a report on how Bitcoin market dominance made a massive run to over 50%. This is quite massive. However, this is not the only metric of evaluation. In the past 24 hours, the trading volume of Bitcoin is more than 13 billion dollars. So, this makes it take the number 2 position behind Tether USDT. The market cap increased to more than $528 billion.
Conclusion
According to data from Whale Alert, a Bitcoin whale made a massive transfer of BTC tokens from an unknown wallet to Coinbase. So, the total worth of Bitcoin in this particular transaction was around $80 million. However, there’s no visible effect of this transaction on Bitcoin’s price.
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The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from cryptonewsbytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from the company.
