Crypto Whale Moves $1.58B In Bitcoin, Where The BTC Is Now Being Stored — Bitcoin (BTC/USD), Dogecoin (DOGE/USD)

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Accord­ing to data shared on Blockchain.com, a cryp­tocur­ren­cy whale has moved cryp­to from a wal­let that had accu­mu­lat­ed over 74,105 Bit­coin BTC/USD worth over $1.58 billion.

The BTCs were moved to wal­lets of unknown ori­gin. In a sep­a­rate trans­ac­tion, the whale moved 50,562 BTC, worth near­ly $1.08 bil­lion; in anoth­er trans­ac­tion, 23,542 BTC were moved, worth about $505 million. 

In a series of large trans­ac­tions, the whale moved 4,000 BTC, 10,000 BTC, 10,000 BTC, 10,000 BTC, 9,642 BTC, 10,000 BTC, 10,000 BTC, 10,000 BTC, and 562 BTC. 

Cryp­to whales send cryp­tocur­ren­cy from exchanges when they plan to hold their invest­ments for an extend­ed period. 

Also Read: The Wolf Of Wall Street Says He Was Wrong About Bit­coin: ‘I Real­ly Hat­ed Crypto’

There­fore, stor­ing large amounts of mon­ey on an exchange presents an addi­tion­al risk of theft.

Last week, var­i­ous cryp­to whales moved Ethereum ETH/USD, Bit­coin, Doge­coin DOGE/USD, and XRP XRP/USD in 24 hours, amount­ing to $412,300,000. 

Talk­ing about Bit­coin’s per­for­mance in the cur­rent mar­ket sce­nario, a cryp­to ana­lyst at ARK Invest said, “For the first time in his­to­ry, bit­coin is less volatile than both the S&P 500 and Nas­daq. The last time volatil­i­ty was this low, bit­coin rose from $9,000 to $60,000 in less than a year.”

At the time of writ­ing, Bit­coin was trad­ing at $21,278, close to 3% up in the last sev­en days



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