Bitcoin Whales Move $16 Million USD Worth In BTC In Four Different Transactions In The Last Day
Four Biggest Bitcoin Transfers In The Last 24 Hours Amounted To $16 Million USD
The Bitcoin whales are very active in the last 24 hours and, according to reports, they have moved a total of over $16 million USD worth of BTC in only four transactions.
Whales, in case you do not know, are the users who own huge amounts of Bitcoin (or Ethereum, XRP and similar assets) and can move huge sums of cryptocurrencies quite quickly, which makes them very influential figures in the market.
A Twitter profile called Whale Alert, which targets and publicize this kind of huge transaction, has affirmed that four large transactions were done in the last 24 hours. The first transaction moved 721 BTC (around 2,77 million USD) and it was followed by a transaction that was considerably larger: 1870 BTC (around 7,1 million USD) was moved soon after that.
These two transactions were made between private wallets and crypto exchanges. The first one was actually made to Coinbase, which prompted some users in social media to think that maybe the owner of the money actually wanted to cash out and transfer its Bitcoin to fiat. The second exchange was made from Poloniex to an unknown wallet.
After that, two more transactions happened in the last hours. One of them was 869 BTC (3,2 million USD) which was moved from Bitstamp to an unknown wallet and then and 1012 BTC (3,2 million USD) moved from an unknown wallet to bitFlyer.
Are Whales Getting More Powerful?
It was recently reported that some Bitcoin whales are getting even more powerful during the bear market. As a lot of people sold their tokens in the market as prices decreased, some whales decided to take their chances and buy the tokens while they were cheap. This has increased the overall amount of BTC that some of these whales have at the moment.
At the time, the 100 richest Bitcoin wallets have over 16% of all the Bitcoin which is currently in circulation in the market. In the last two months, the five largest wallets increased their BTC by 2,879 BTC, which may (or may not) indicate that this part of the market is getting more concentrated.