Crypto whales sent over 5,800 bitcoins worth over $327 million to a single location. Among these transfers involved BTC from an unknown wallet to Coinbase. Another transaction transported Bitcoin from Binance to Coinbase
According to Whale Alert, crypto whales recently sent over 5,800 bitcoins worth over $327 million to a single location.
In a series of tweets, the whale action tracking website stated that crypto whales have moved thousands of BTC into the $42,000 zone in the last 24 hours, despite Bitcoin’s steep drop.
Five of these transactions involved the transfer of BTC from an unknown wallet to the Coinbase exchange. Another transaction moved a substantial quantity of Bitcoin from Binance to Coinbase.
A rundown of the Bitcoin transactions
While many crypto investors are concerned that the massive amount of Bitcoin flowing into exchanges would cause selling pressure, Into the Block reveals that centralized exchanges have witnessed numerous inflows over the last week, with more withdrawals than inflows.
“Bitcoin saw net withdrawals from centralized exchanges of over $2 billion, a 5-week high.”
At the time of writing, BTC is down more than 7% on the day and is worth $49,025.
