Bitcoin Whale Transfers $900 Million Worth of BTC in a Single Move

ByteTree has tracked a huge transaction. According to the profile, which is specialized in finding large transactions, a whale moved 107,848 BTC (around $900 million USD) with a single transaction recently.

Initially, the community was surprised by such a huge transfer, however, it was soon discovered that the transaction was made by the crypto exchange Bitstamp. The European exchange, which is responsible for important spot markets, moved the funds from its cold storage wallets, meaning that it possibly were funds from their clients.

The discovery calmed down some fears that a hack had occurred, something that unfortunately is way too common these days.

Curiously, this time the transaction was not detected by major services such as Whale Alert, only by ByteTree, which is a service that is also used to track big transactions occuring in the network. It was also odd that the exchange did not notify any of its customers about such a large movement of their funds.

Aside from this transaction, the market is having a slow day. A total of $374 million USD was traded during the day in around 274,000 transactions. There were several days recently in which the movement was considerably faster.

At the moment, Bitcoin is trading at around $8,335 USD and it is still unable to overcome the $8,400 USD resistance barrier. Since the prices dropped from $10,000 USD, the market has been facing a hard time.

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Gabriel Machadohttps://bitcoinexchangeguide.com/
Brazilian journalist who is interested in the future of the financial world. Has a special interest in the blockchain technology and the global financial markets. Covers economic and technology news with a focus on the fintech industry and has been writing about the cryptocurrency market since the start of 2017.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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