Bitcoin Whale Moves Abruptly Above $245,000,000 in BTC – Here’s Where Crypto Is Going
A whale transfers tens of millions of dollars worth of Bitcoin (BTC) amid a downturn in the choppy crypto markets.
According to whale watcher Whale Alert, the major Bitcoin holder transfered 12,970 BTC worth just over $248 million when sent from an unknown wallet to another unknown wallet.
Data from decentralized network explorer Blockchain.com shows that the transaction cost about $22. Bitcoin is trading at $18,747 at the time of writing.
According to blockchain data aggregation platform BitInfoCharts, the recipient address of the massive crypto transfer is now the 66th richest Bitcoin address and holds approximately 0.068% of the total BTC supply.
The massive BTC transfer comes after blockchain data platform Glassnode recently revealed that Bitcoin withdrawals from crypto exchanges by whales have shot up in recent weeks. According to Glassnode, the largest net withdrawal since June from crypto exchanges was recorded this month.
The massive Bitcoin transfer also coincides with crypto analytics firm Santiment revealing that the level of Bitcoin currently held on crypto exchanges had reached 48-month low amid the outflow of the flagship digital asset from exchanges. On the other hand, the supply of Ethereum (ETH) on exchanges had increased, according to the crypto analysis platform.
“Bitcoin is seeing more and more coins move away from exchanges in the month of October, matching levels last seen in November 2018.
Meanwhile, Ethereum’s supply has fluctuated slightly higher after a large influx moved to exchanges ahead of the merger.”
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Featured image: Shutterstock/abstractmanx
