$108 Million Worth of BTC Shifted to Unknown Wallet - Price Dump Round the Corner?

$108 Million Worth of BTC Shifted to Unknown Wallet - Price Dump Round the Corner?

Yesterday, it was made known that a massive transaction had gone down on the bitcoin blockchain. In fact, more than 13 thousand bitcoin worth over a million dollars was shifted into an unknown wallet.

Bitcoin Whales

Depending on how new you are to the crypto space, you will have most likely heard about Crypto whales. 

The above is a good example of a bitcoin whale.

The term ‘whale’ is given to an investor or trader that have a very big amount of crypto funds and partakes in very big transactions. So when compared to other financial sectors, the crypto market is pretty small.

Some have sparked predictions for the price of Bitcoin following this transaction with others indicating that the coins were prepared for selling. The increased activity could also mean that a rally is around the corner too. Whereas this isn’t all that unusual of a transaction, whales moving coins is a rare occurrence.

Whale Alert Twitter

For those that don’t know, the Whale Alert Twitter account is dedicated to “live tracking of large crypto transactions from and to exchanges” for some of the top coins in the market.

The Twitter account has made it known of some other smaller transactions to as we can see funds moved from unknown wallet to Huobi below:

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

Investment Disclaimer
Related Topics: