10th Largest Bitcoin Wallet in Existence Moves 60,000 BTC Worth $641,000,000

Crypto traders have their eyes peeled on a massive Bitcoin transaction involving one of the biggest wallets in the industry.

The big Bitcoin holder just moved 60,000 BTC worth $641 million for a fee of $14.50.

Source: Blockchain

The transaction was first sighted by Bitcoin Block Bot, which is an automated blockchain tracker.

According to the latest block explorer data, the whale is likely the crypto exchange Bitfinex moving funds in and out of cold storage.

BitInfoCharts shows that the sending wallet, which was created in August 2019, began receiving and sending huge sums of Bitcoin in February 2020 en route to becoming the 10th largest BTC wallet prior to the most recent transfer. Now, the wallet sits as the 12th richest BTC wallet on record.

The big-time transaction occurred just as Bitcoin is going through a heavy correction. At time of writing, the king crypto is trading at $10,509, according to CoinMarketCap, down nearly 15% from its 2020 high of $12,359.

Ethereum whales have also been noticeably active as the week comes to a close.

The ledger monitor Whale Alert is tracking four large ETH transactions, with the largest moving 200,000 worth $77.7 million between two unknown wallets. None of the ETH appears to be heading to any crypto exchanges, where it could potentially be sold for cash.

β€’ 24,543 #ETH (9,691,669 USD) transferred from #ZB to unknown wallet
β€’ 40,000 #ETH (15,761,000 USD) transferred from Compound to unknown wallet
β€’ 14,000 #ETH (5,449,022 USD) transferred from #Gemini to unknown wallet