What happened: $482,916,433 worth of Bitcoin BTC/USD was just moved between 2 anonymous cryptocurrency wallets in a single transaction.
This mysterious person's bitcoin wallet address has been identified as: 38dvbnrNYrPyDxhHqvpscL39124wcpCxw8
$482 million worth of Bitcoin was sent to an unknown recipient, with Bitcoin wallet address: 3DdMUhsE1udyyzzGSy3XtLqQ7LyaQ1nHEP
Why it matters: Cryptocurrency whales that own millions of dollars in Bitcoin tend to move markets single-handedly. If the whale decides to exit this Bitcoin position, there could be enough market impact to push down the price of BTC. It takes about $15 to $30 million of sell pressure to move the price of Bitcoin down 2% on any given exchange.
Since this transaction wasn't sent to an exchange, it's unlikely that this Bitcoin whale is looking for liquidity. Instead, they may be transferring this to a different wallet for security purposes.
You can view more details about the transaction here
According to Glassnode, there are 399,011 Bitcoin wallets with over $100,000 in BTC.
See Also: Best Crypto Apps 2021 and Best Crypto Portfolio Trackers
Price Action: Bitcoin is down 0% in the past 24 hours.
See Also: How To Buy Bitcoin
Public Blockchain data sourced from Whale Alerts Twitter.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.