Whale Moves 13,180 BTC, Bitcoin Price Dump Incoming?
A large-scale transaction was noticed on the Bitcoin blockchain, moving 13,180 BTC, worth over $ 108 million at current prices.
Transaction moved UTXO to New Wallet
The transaction raised predictions for the price of BTC, with some suggesting that the coins were being prepared for sale. For others, increased activity can also mean preparing for a rally. This is by no means an unusual transaction, although coin-moving whales are rare.
transferred ? ? ? ? ? ? ? ? ? 1[ads1]3,180 #BTC ($ 107,804,316) transferred from unknown wallet to unknown wallet [19659005] Tx: https://t.co/mw1CCfL0wvebrit19659005? ? – Whale Alert (@whale_alert) October 8, 2019
A few minor transactions of 650 to 1000 BTC were seen moving funds to exchanges multiple predictions for possible sales.
648 #BTC ($ 5,298,254) transferred from unknown wallet to #Huobi
Tx: https://t.co/swQny8GaIt [19659005] – Whale Alert (@ whale_alert) October 8, 2019
After a negative third quarter, BTC prices show a deteriorating mood. BTC is trading at 0 0 after a short low-level improvement near $ 7,800.
In the last month, the bitcoin network saw a $ 1 billion transaction, which mystified users. There are enough "whale" wallets that hold thousands of BTC beyond stock exchanges, creating fuss by moving coins.
The current address that originated the last whale transaction is at number 52 in the "Bitcoin rich list". It holds 0.07396% of the total BTC wealth, about one-tenth of the coins usually held on large exchange wallets. The address dates back to 2016 and is quite active, with 121 inbound transactions.
Further analysis shows that the receiving address of 13,180 BTC was actually intended to receive the amount as "change". The sender moved 1000 BTC for one purpose or another and had an unused transaction production of 13 180 BTC back to another address.
Bitcoin Network Activity Picks Up Again
The Bitcoin network is back to relatively high activity, over 800,000 transactions per day, including "change" transactions. The real movement of funds may be lower. Blockchain activity can be misunderstood, as waves of microtransactions differ from days when a lot of monetary value is shifted.
In recent days, the Bitcoin network is moving just under $ 1 billion. Lately, the network has been dealing with transaction spikes for technical reasons, including projects that used Bitcoin blocks for further verification. High transaction activity has also indicated a "dust grip", the mass transmission of a few Satoshi to multiple addresses, to make tracking of funds more difficult.
What do you think about the effects of BTC whales? Share your thoughts in the comments section below!
Images via Bitcoinist Media Library, Twitter: @whale_alert
