One giant crypto whale is moving over $600,000,000 worth of the leading crypto asset by market cap Bitcoin (BTC).
According to blockchain tracker Whale Alert, the wallet moved 14,712 Bitcoin worth $611,795,643 at time of transfer on April 21st for a fee of 0.0000166 BTC, less than $1.
— Whale Alert (@whale_alert) April 21, 2022
Following the transfer, the massive stash was moved to a series of different addresses before eventually ending up in an unknown wallet with only one transaction record on the blockchain.
The whale tracker also reports significant Bitcoin movements involving leading US crypto exchange Coinbase and the Gibraltar-based digital asset storage provider Xapo this week.
Meanwhile, Xapo moved $46,171,989 worth of BTC to an unknown wallet.
The large transfers come as the price of Bitcoin hovers at $40,000. Popular on-chain analyst Will Clemente tells his 617,300 Twitter followers that whales are now in an accumulation phase.
“Bitcoin whales have been accumulating for over a month now”
Bitcoin is trading for $40,521 at time of writing, down 2.8% on the day but up 1.4% on the week. The leading crypto asset by market cap is down 4.4% on the month.
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Featured Image: Shutterstock/Arthur Balitskii