News of a nearly half a billion dollar Bitcoin (BTC) movement is streaming through the cryptoverse.
Ivan Liljeqvist of Ivan on Tech saw the massive transaction, which brought in 46,835 BTC worth $ 431 million at the time of publication. The fee for moving BTC’s treasure house was less than $ 3.00.
BREAKING: SOMEONE MOVED JUST $ 400 MILLION #BITCOIN
Paid a $ 2.5 fee
Banks are doomed … pic.twitter.com/ic0zP9CiyG
– Ivan on Tech (@IvanOnTech) May 21, 2020
The receiving walletCreated in September last year, it has a long history of sending and receiving large amounts of crypto. The activity suggests that it may be owned by a stock exchange or a custodian who holds large amounts of BTC on behalf of its clients.
Aside from this massive transfer, Bitcoin whales have been relatively quiet since the halving, with BTC floating in the $ 9,000 range.
New data from the crypto analysis company Glassnode shows the seven-day moving average of the number of Bitcoin whales with 10,000 or more BTC is at its highest level since August 2019.
Meanwhile, the number of whales has risen steadily at 1,000 or more BTC and is now up 24% since October 2018. Glassnode says the shift suggests global wealthy Bitcoin investors as a group are long BTC.
The number of whales (ie entities with at least 1000 BTC) increased in the run-up to [the March 12th] market crash, and accelerated during and after the crash. This suggests that larger market players are accumulating BTC, which is an optimistic sign.
This trend implies that, despite an uncertain market environment, whales are confident that now is a good time to collect BTC, suggesting they believe there is even more room for growth. ”