Whale Alert: Massive $417 Million BTC Transfer

The crypto market looks great today with the digital assets trading in the green.

Bitcoin was finally able to surpass the $9,000 the other day, and at the moment of writing this article, the king coin is trading in the green, and it’s priced at $9,382.84.

There’s a huge Bitcoin transfer that is turning heads in the crypto community.

Large whale moves turn heads in the crypto space

One of the largest whales on the ledger just got 47,835 BTC that’s worth $147 million for a fee of just $1.44

This transaction has been spotted by the Bitocin Block Bot which is an on-chain whale tracker that’s designed to see massive crypto movements.

The Bitcoin address that got this huge amount of crypto is the 16th largest one in existence says BitInfoCharts.

The wallet is highly active and it sent and received massive batches of crypto for months now.

Speculation points at Bittrex crypto exchange

This could show a crypto exchange owns or an institutional custody service owns the wallet.

According to the latest sports coming from the online publication the Daily Hodl, it’s been revealed that there’s some speculation that the address is associated with Bittrex crypto exchange. Anyway, so far, the owner of the wallet has not been confirmed.

There are various predictions about the price of BTC following the halving.


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

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