Technology

Whales wake up, half a million Bitcoins traded in 24 hours


A series of anonymous Bitcoin transfers have just taken place in a short time. Analysts predict this is a collection operation by large investors, or “whales”.

Tracking tool Whale Alert detected nearly 50 consecutive transactions, averaging between 9,000-9,900 Bitcoins. Total more than 465,000 Bitcoins, the value is equivalent to 18.6 billion USD were exchanged within the last 24 hours.

I'm sorry for your Bitcoin transaction 1

Nearly half a million Bitcoins have just been transferred within 24 hours. Photo: Getty Images.

The majority of Bitcoin transfers are made between anonymous crypto wallets. There were only 4 transactions through Coinbase, the world’s largest digital asset exchange platform.

Through data analysis, U Today These transactions may be a move to collect money by “whale” investors or some exchanges. On anonymous wallets alone, the value of this transaction is up to 17.3 billion USD.

Notably, Coinbase participated in the transfer of 59,800 Bitcoins during the recent massive transaction. This digital asset exchange is based in the US and has officially listed on the stock market since April.

After the huge transaction, the Bitcoin price in the market has surpassed the mark 40,000 USD/BTC, according to data from Coin Desk.

In recent times, the value of this cryptocurrency has continuously fluctuated for many reasons, in which, China’s strong ban on mining caused the market to fluctuate violently.

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