Entrenched Bitcoin (BTC) traders are suddenly moving billions of dollars worth of the flagship digital asset to and from crypto exchanges and unknown wallets.
New data from whale research platform Whale Alert reveals that one BTC whale abruptly moved 35,049 BTC worth $1,518,020,170 from an unknown wallet to another on January 31, the largest transaction involving the crypto king on the day.
Other notable trades on Whale Alert’s radar involving the top crypto assets by market cap on the same day include:
- 25,266 BTC worth $1,099,679,062 transferred from an unknown wallet to another unknown wallet.
- 929 BTC worth $39,562,024 transferred from crypto exchange Coinbase to crypto lender Gemini.
- 2,500 BTC worth $106,647,312 transferred from an unknown wallet to payment platform Paypal.
- 1,736 BTC worth $73,943,008 transferred from an unknown wallet to Gemini.
- 34,300 BTC worth $1,476,690,397 was transferred from one unknown wallet to another unknown wallet.
- 499 BTC worth $21,794,616 transferred from crypto exchange Binance to crypto exchange Kraken.
- 2,482 BTC worth $106,303,167 have been transferred from one unknown wallet to another unknown wallet.
- 896 BTC worth $38,153,720 transferred from Coinbase to Gemini.
The total amount of Bitcoin moved by wealthy investors yesterday comes to approximately $4.5 billion.
Bitcoin is trading at $42,647 at the time of writing, down 2% in the past 24 hours and down 12% from its 30-day high of $48,494 on January 11.
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Generated image: Midjourney