Anonymous Bitcoin Whale Transfers 12,000 BTC

Bitcoin, the most valuable cryptocurrency in the world, is currently trading near $53,000 with a market cap of approximately $990 billion. Bitcoin whales are moving the digital currency in large amounts amid price volatility.

According to the latest data published by Whale Alert, a blockchain tracking and analytics firm, an anonymous cryptocurrency user moved 12,000 Bitcoin worth more than $620 million. The transaction was executed on 25 March at 20:58 UTC.

The latest transfer was recorded on Whale Alert has reported a surge in unknown cryptocurrency transactions involving Bitcoin, Ethereum, XRP and other digital currencies. Finance Magnates earlier reported about massive Bitcoin outflows from the digital currency exchange Coinbase.

More than $1 billion worth of Bitcoin has left Coinbase within the last few days. BTC’s liquid supply at leading cryptocurrency exchanges is plunging.

“Mind-blowing how Bitcoin supply just keeps drying up more despite recent price volatility. The fundamental dynamics seem different this time around compared to the last cycles,” Jan & Yann, Co-founders of crypto analytics provider, Glassnode mentioned on Twitter. BTC whales are not selling their digital assets as only 36% of the Bitcoin supply has moved in the last 6 months.

Apart from the latest Bitcoin transfer, Whale Alert reported about a massive Ethereum transaction. An unidentified ETH user moved 197,656 Ethereum to an unknown crypto wallet. The total value of the transaction stood at around $317 million at the time of the transaction. Additionally, the blockchain firm reported a transfer of around 80 million USDC. Unknown crypto transactions are having a direct impact on the price of digital currencies. The cryptocurrency market has seen a volatile week as Bitcoin lost nearly 10% of its value in the last 7 days, and Ethereum is down nearly 12% this week. Tether has regained the position of the world’s 3rd largest cryptocurrency after reaching a market cap of $40 billion. Binance Coin is the 4rth largest digital currency in the world with a market cap of around $37 billion.

(Photo: piqsels)

Bitcoin (BTC) $ 16,880.92 2.81%
Ethereum (ETH) $ 1,267.16 4.66%
Tether (USDT) $ 1.00 0.29%
BNB (BNB) $ 299.55 0.40%
USD Coin (USDC) $ 1.00 0.29%
Binance USD (BUSD) $ 1.00 0.14%
XRP (XRP) $ 0.404328 2.76%
Dogecoin (DOGE) $ 0.105344 2.81%
Cardano (ADA) $ 0.315119 1.62%
Polygon (MATIC) $ 0.869513 4.04%
S&P 500  ^GSPC 
$3,961.31  $3.68  (0.09%)
Dow Jones Industrial Average  ^DJI 
$33,828.48  $24.05  (-0.07%)
NASDAQ Composite  ^IXIC 
$11,036.62  $52.84  (0.48%)
Russell 2000  ^RUT 
$1,840.29  $3.74  (0.20%)
Crude Oil Jan 23  F*CL.NYM 
$80.90  $2.70  (3.45%)
$0.0000  $0.0000  (0.00%)