Crypto whales are suddenly on the move, moving over half a billion dollars worth of Bitcoin (BTC) as the crypto king tries to mount a recovery rally.
Blockchain monitoring service Whale Alert initially reported the large Bitcoin transactions worth 20,470 BTC worth more than $526 million.
In the largest Bitcoin transaction in the past day, an investor with big pockets moved 10,205 BTC worth $261.32 million from one 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 huge Bitcoin whale paid just $35.73 to move the big BTC treasure.
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 too 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 paid just $74.62 to move 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 big-pocketed investor spent $131.67 to send the crypto to Coinbase.
Meanwhile, a major Bitcoin investor paid less than $20 to move 899 BTC worth $23 million from the crypto exchange Binance to an unknown wallet.
The big Bitcoin trades come as BTC bounced from its weekly low of $24,864 to a high of $26,676, up more than 7%.
The crypto king has since fallen back slightly and is trading at $26,599 at the time of writing,
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Image generated: Midway through the journey