Crypto whales are suddenly on the move, relocating over half a billion dollars worth of Bitcoin (BTC) as the crypto king attempts to mount a recovery rally.
Blockchain-monitoring service Whale Alert initially reported the large Bitcoin transactions to the tune of 20,470 BTC worth over $526 million.
The largest Bitcoin transaction in the past day involves a deep-pocketed investor shifting 10,205 BTC worth $261.32 million from a wallet of unknown origin to another wallet of unknown origin.
? ? ? ? ? ? ? ? ? ? 10,205 #BTC (261,322,181 USD) transferred from unknown wallet to unknown new wallethttps://t.co/4q5sM5gcy6
— Whale Alert (@whale_alert) June 16, 2023
According to Whale Alert, the massive Bitcoin whale paid just $35.73 to move the large BTC trove.
In a separate transaction, a crypto whale shifted 3,912 BTC worth $101 million between unknown wallets. The large entity paid about $50 to process the multi-million-dollar transfer.
Whale Alert also witnessed the transfer of 3,190 BTC worth $81.54 million from the crypto exchange Kraken to a wallet of unknown origin. The crypto whale shelled out just $74.62 to relocate the BTC stack.
In another transaction, a whale moved 2,264 BTC worth $59.62 million from a wallet of unknown origin to the crypto exchange Coinbase, where the Bitcoin could potentially be sold on the open market. The deep-pocketed investor spent $131.67 to send the crypto to Coinbase.
Meanwhile, a large Bitcoin investor paid less than $20 to shift 899 BTC worth $23 million from the crypto exchange Binance to an unknown wallet.
The large Bitcoin transactions come as BTC bounced from its weekly low of $24,864 to a high of $26,676, an over 7% increase.
The crypto king has slightly retraced since and is trading for $26,599 at time of writing,
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note…
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