This Wallet Just Transferred $858M Worth Of BTC | Benzinga

Spread it!

What happened: $858,012,280.00 worth of Bitcoin (CRYPTO: BTC) was just moved between 2 anonymous cryptocurrency wallets in a single transaction.

This mysterious person’s bitcoin wallet address has been identified as: 33QsUVcapJKLoSoDFmFi1nGJbkXoByfTDR

$858 million worth of Bitcoin was sent to an unknown recipient, with Bitcoin wallet address: 35XYJEQ8Q5ud8Mui1dPAGN36R3Su7XUm7v

Why it matters: Cryptocurrency whales that own millions of dollars in Bitcoin tend to move markets single-handedly. If the whale decides to exit this Bitcoin position, there could be enough market impact to push down the price of BTC. It takes about $15 to $30 million of sell pressure to move the price of Bitcoin down 2% on any given exchange.

Since this transaction wasn’t sent to an exchange, it’s unlikely that this Bitcoin whale is looking for liquidity. Instead, they may be transferring this to a different wallet for security purposes.

You can view more details about the transaction here.

According to Glassnode, there are 491,594.00 Bitcoin wallets with over $100,000 in BTC.

See Also: Best Crypto Apps 2021 and Best Crypto Portfolio Trackers

Price Action: Bitcoin is down -1% in the past 24 hours.

See Also: How To Buy Bitcoin

Public Blockchain data sourced from Whale Alerts Twitter.

This article was generated by Benzinga’s automated content engine and reviewed by an editor.

Source link

Spread it!

Comment box