Rajarshi Mitra
Independent Analyst
- The sender paid only 0.0108 BTC in transaction fees (around $120) to send >$100 million.
- Whales moved 32,006 bitcoins over the last 24 hours with 11,041 BTC sent from unknown wallets.
A Bitcoin bull moved 8,884 BTC (worth $101,530,110 at the time) from an unknown wallet to the US-based crypto exchange Coinbase. The intriguing thing is that the wallet address had been mostly inactive for nearly a year. The last significant transaction that the wallet made was back on July 30, 2018, roughly worth $529,099. Bitcoin has been on an uptrend, so this hasn’t hurt its value yet. An interesting thing to note is that the sender paid only 0.0108 BTC in transaction fees (around $120) to send >$100 million. Overall, whales have moved a total of 32,006 Bitcoin worth roughly $364 million at time of transfer, with 11,041 BTC sent from unknown wallets to crypto exchanges.
A little over a month ago there was a sell order worth 3,645 BTC on Bitstamp worth $26 million at that time. As a result, Bitcoin’s price dropped from $7,749 to $7,179 in less than 30 minutes, with Bitcoin’s 24-hour decline being 8.7%. According to Bitstamp’s price chart, a low of around $6,000 was recorded, which triggered a massive sell-off on all other exchanges. Bitcoin managed to recover from the drop. Currently, Bitcoin is trading at its highest levels since January 2018.
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