A Bitcoin whale is transferring hundreds of millions of dollars worth of BTC in the midst of a correction that’s impacting the broader crypto markets.
According to blockchain tracker Whale Alert, the massive crypto holder moved exactly 10,000 BTC from multiple wallet addresses coming from Bitcoin-custodial firm Xapo to the global crypto exchange Binance. At the time of the transfer, the Bitcoin stash was worth nearly $608.8 million.
— Whale Alert (@whale_alert) November 18, 2021
The large Bitcoin whale paid 0.00005752 BTC, worth $3.37 at time of writing, in transaction fees for the transfer. Bitcoin is currently exchanging hands at $58,612.
Whale Alert is also reporting other large Bitcoin transactions in the last 48 hours amid the crypto market pullback. Three transactions involve whales moving hundreds of millions of dollars worth of Bitcoin between crypto exchanges.
In two transactions, whales withdrew nearly $250 million worth of Bitcoin from Coinbase. Other transactions saw whales moving BTC between Xapo and crypto exchanges.
Here’s the summary of some of the whale transactions in the last two days:
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Tithi Luadthong/Natalia Siiatovskaia