Crypto traders have just witnessed the biggest Bitcoin transaction there and this transaction involves the biggest wallet in the industry. The wallet holder in question has just moved 60,000 BTC worth $641 million for a fee of $14.50. We give you a glimpse of the details of the transaction.
It was Bitcoin Block Bot which first noticed the transaction. The automated blockchain tracker, tracker tweeted to notify everyone about the transaction. It pulled the ‘Whale alert’ on its account.
Now, the latest data from block explorer tells us that the whale in question is likely to be the crypto exchange Bitfinex which is moving in and out of cold storage. The Bitinfocharts displayed shows that the sending wallet was created last year in August. The wallet was seen receiving and sending huge amounts of Bitcoin in February 2020 which is its gateway to becoming the largest BTC wallet before this huge recent transfer took place. As of now, the wallet is placed in the 12th position in the list of richest BTC wallets on record. What is noteworthy is that the huge transaction has taken place at a time when Bitcoin is experiencing a correction. The Bitcoin, king of cryptos was trading at $10,509, according to analysis which was shown down by 15% from its 2020 high of $12,359. The Ethereum whales have also been very active this entire week.
The whale alert has also tracked four very large ETH transactions. The largest of the four moved 200,000 worth $77.7 million between two unknown wallets. As of now none of the ETH seems to be moving towards any crypto exchanges. But, when it does it is in most likelihood sold off for cash. Below are the details of the same:
- 24,543 #ETH (9,691,669 USD) transferred from #ZB to unknown wallet
- 40,000 #ETH (15,761,000 USD) transferred from Compound to unknown wallet
- 14,000 #ETH (5,449,022 USD) transferred from #Gemini to unknown wallet
As on September 4th, Bitcoin (BTC) fell below $10,000 because selling pressure combined with the strength of the US dollar was a pain for hodlers.
Data shows that BTC/USD touched 4-figures during Friday trading that capped a 24-hour loss of more than 10%. It was sure that Bitcoin sought to reclaim $10,500 on the day before conceding to lose five figures for the first time since late July. The volatility was also noticeable as BTC/USD fluctuated around the $10k mark. An expected rebound took the market to $10,400 just minutes after it dived to a low $9900.
Market analysts observe that there was some keen interest in establishing bottom support which could likely happen at the outstanding Bitcoin Futures gap of $9,700. The weakness exhibited in Bitcoin could also lead to some good news for altcoins. Bitcoin’s market cap share om Friday was 57% which is considered to be its lowest since June last year!